My reasons for taking a short trade here:
1. Price has broken out of a bigger structure (an ascending channel), theres a 90% chance of it going to the bottom of structure
2. Downward trend which has created a rising wedge which is a reversal pattern
3. Price has broken out of the rising wedge
4. Downward move followed by correction which creates a bearish pennant.
1. Price has broken out of a bigger structure (an ascending channel), theres a 90% chance of it going to the bottom of structure
2. Downward trend which has created a rising wedge which is a reversal pattern
3. Price has broken out of the rising wedge
4. Downward move followed by correction which creates a bearish pennant.