Let's try to catch down movement one more time. We have a resistance level
and price reversal confirmed by RSI
. We have bearish
divergence formed by RSI
. We have double top
near a resistance level
. Is it solid arguments for short trades? Of course, yes. Will it be a profitable trade? Well... several short trades based on such signals were closed by stop orders. But why not to try again? Entry level is below 4790. Stop order should be placed above the resistance levels and profit target will be MA100.