As seen in the chart, a nice double top formation is developing. In double top patterns, it is crucial to observe divergence in the oscillators, which we can see here. Additionally, the price moving below the 50-hour moving average and the contraction of the uptrend further support my decision to enter a short trade.
Trade closed: target reached
It was a nice trade! Closed
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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.