This is a crowded chart, i know. But this opportunity is just so stuffed with goodies!
- We have an extremely strong resistance level (black line with blue boxes) - Bearish trendline (black) - Oversold RSI (14) with divergence (red line) - Pinbar - AB=CD pattern (blue lines) - Fibonacci cluster (.5 and 1.32) - Pinbar-ish candle
This looks really good as the confluence is extreme. One can take a trade with 1:5 risk:reward or a more conservative trade of 1:2. On the 1 hour we have a doji + bearish candle which means i will open this trade right now. And as usual: Hold your thumbs!