Hey traders! I have a short setup here in 240min timeframe. Price action currently trading in structure resistance . RSI hidden divergence showed up which shows a great chance to take this short, a nice trend line showing good resistance too. The stop loss amount is a lot. I would not put more than 1% risk here.
I think overall, this is the correct point of view, but I do see the current cycle topping out at 165 first. The last Wide Range Bar appears to have been a fill of Demand, hence the retrace, which would assume further bullish behavior from current levels. Thanks for sharing!