In my opinion, we're in a Bull Trap. Dead-Cat Bounce.
There's a very similar Ascending Triangle forming on a smaller time-frame to the one we spilled from a few days ago. Similar Fractals, too.
Ascending Triangles are usually Bullish, however, in a overall Bear Market, Ascending Triangles will often spill to the downside.
I'm short right now with stop-loss at $6450. Target $5800 over next 24-48 hours.
Stay Sharp.
There's a very similar Ascending Triangle forming on a smaller time-frame to the one we spilled from a few days ago. Similar Fractals, too.
Ascending Triangles are usually Bullish, however, in a overall Bear Market, Ascending Triangles will often spill to the downside.
I'm short right now with stop-loss at $6450. Target $5800 over next 24-48 hours.
Stay Sharp.
Trade closed manually