Entered a short position on this chart. As you can see starting out we have a multi-top going back to around new year 2013
, that was tested 1 year later. From July to December a nice trend line
had formed, but as you will see the MACD
started to show warning signs of losing momentum. price has since broken through the trend line
, and while it did try to rise back above that line has failed. Looking at today's picture I have entered a short position based on those reasons and I used a 3% drop from break as my confirmation for breaks. As a added bonus The MACD
is still falling and volume
has also tapered off with the move.