It seems a double top was formed on daily & 240 min charts with RSI divergence evident on 240 min.
Technically the double bottom scenario only becomes valid once the support level between 10000 & 9700 is broken.
When one considers the Platinum chart it seems that the price is sliding down and that Impala will follow suit.
Although the double bottom pattern is not confirmed yet, the bigger picture shows high probability that an early short entry is worth the risk.
If the double bottom pattern confirms by breaking the support level, a downside target of <7500 is likely.
TRADE
Sell @ 11100
Stop @ 12100
Target 1 @ 7500
Risk = 1000
Reward = 3600
Technically the double bottom scenario only becomes valid once the support level between 10000 & 9700 is broken.
When one considers the Platinum chart it seems that the price is sliding down and that Impala will follow suit.
Although the double bottom pattern is not confirmed yet, the bigger picture shows high probability that an early short entry is worth the risk.
If the double bottom pattern confirms by breaking the support level, a downside target of <7500 is likely.
TRADE
Sell @ 11100
Stop @ 12100
Target 1 @ 7500
Risk = 1000
Reward = 3600
Trade closed: stop reached
Stop @ 125000
Target 1 @ 7500