Price has reached a supply zone (the orange zone) and is forming a range. On the RSI, we are also seeing divergence, and the RSI trendline has broken earlier than the price trendline — which is a good sign to confirm a drop. Now, by breaking the trendline, we can enter a sell position. The target zones are the red lines.
Trade closed: target reached
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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.