Reasons to go short -
Overall trend is bearish
Pulling back into a strong SR level (thin blue line)
Last time it was at this level there was a strong sell off, the price is now coming back to test this area (yellow box) for the first time
Yellow box is also a combination of fib levels from previous highs
Good risk to reward
Overall trend is bearish
Pulling back into a strong SR level (thin blue line)
Last time it was at this level there was a strong sell off, the price is now coming back to test this area (yellow box) for the first time
Yellow box is also a combination of fib levels from previous highs
Good risk to reward