Rising wedge forming on the 4H chart. possible drop.
Note
Zoomed in view.
Trade going as planned so far.
Note
Price breaking out of the trendline support.
Also bearish MACD crossover
Note
We had a 5th impuls wave up. So I added to my short position to maximize profit and manage my risk. Moved stoploss slightly higher. We can see now that we have also formed bearish divergence on the RSI. If we break above 6800 this count and trade is invalidated.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.