This analysis is totally my gut feeling. Not depending on any technicals.
Despite very strong bullish trend, I feel the momentum might be slowing down.
I see trypical signs of double top here around ATH.
If price wants to continue movement up, it will give closing above current ATH 1355.
If there is no closing above last swing high, most probably it will form double top.
Agressive trader can short from here. For more confirmation, you can wait for price to be in selling range around 1300 area with SL accordingly with traders risk profile.
This is contra trade, logically we are shorting against very bullish trend by my hypothesis is at least price will touch 200 Day EMA before moving up.
Despite very strong bullish trend, I feel the momentum might be slowing down.
I see trypical signs of double top here around ATH.
If price wants to continue movement up, it will give closing above current ATH 1355.
If there is no closing above last swing high, most probably it will form double top.
Agressive trader can short from here. For more confirmation, you can wait for price to be in selling range around 1300 area with SL accordingly with traders risk profile.
This is contra trade, logically we are shorting against very bullish trend by my hypothesis is at least price will touch 200 Day EMA before moving up.
Trade active
Price is at very attractive level for shorting. Your SL is swing high. Risk is low but reward is high.Good quality trade here. Should not miss. Hitting SL here might be worth the potential reward.
High conviction as our hypothesis seems to be working.
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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.