ETN Short - Divergences in MACD and EFI

BATS:ETN   Eaton Corporation, PLC
As my first Published Idea I would like to suggest Shorting ETN .
The declining volume and the divergence in both MACD histogram and lines, point to a trend reversal.
The Elder Force index also has a bearish divergence.
Finally, the daily candlestick chart is going to create an evening star with a bearish engulfing pattern.
Stop above the close price of the evening star .
Target near 45 a strong support/resistance line

Short @ 46.70
Stop @ 47.45
Target @ 45.25

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.