This is an amazing position to take for a long term trade. It has been forming an ascending wedge for a while now, and has finally failed to reach the top of that wedge, signalling a movement of price downwards. We also have a double top and an RSI divergence which is one of my favorite setups. This is also a strong weekly resistance level, and the weekly is showing very bearish price action.
Trade active:
Still choppy price action, currently in the position, just waiting for it to get some momentum.
Trade closed: stop reached