1. Bearish divergence on the 15m TF of the RSI
2. Price is at structure (resistance)
3. The bullish move up will need to be rebalanced and there is liquidity to be taken out at the bottom
However, the stop loss gives room for price to take out liquidity (£) and rebalance the 50% of the bearish move, which is also a rebalancing of the bearish wick, before moving to the downside.
2. Price is at structure (resistance)
3. The bullish move up will need to be rebalanced and there is liquidity to be taken out at the bottom
However, the stop loss gives room for price to take out liquidity (£) and rebalance the 50% of the bearish move, which is also a rebalancing of the bearish wick, before moving to the downside.
Trade closed: stop reached