We are currently testing a previous resistance made from the previous flag and we are still in a downtrend so this is a shorting opportunity. Use tight stops as there are multiple contradicting patterns at play. For now however, the only thing that is confirmed is the current downtrend.
Please note however that a break of the upper blue line could represent a buying signal if it gets to that.
Please note however that a break of the upper blue line could represent a buying signal if it gets to that.
Trade closed manually:
Cashing in my shorts. Too much activity on the bid for my taste. I want to see if the bulls have it in them to crash through that upper resistance.
Comment:
Trade closed manually:
Cashed in a bit more of my shorts as I am scaling out.
Trade closed manually:
Completely out of my shorts.