has completed a bearish crab
pattern in the optimal sell zone for a short Wolfe Wave
trade. There is significant bearish
divergence in addition to an overbought RSI
which add to the bias toward the short side. Two missed weekly pivots
sit below price as well, which may help drag the price down. Stop loss can be placed above a significant S/R level
while maintaining a substantial R/R. The higher probability target is the . 382 retracement
of the xa leg at 25.24, but a more aggressive trader may chose to target the 1-4 target line.
Confluence in the PRZ:
1. 1.618 extension
of XA ( bearish crab
4. .886 XA
5. 2bc projection
6. Overbought RSI
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