As described on the chart, the candle on 31st March indicates a bull market.
Below are the reasons why i expect a reversal and looking at a trap: 1. Linear Regression - 2 Standard Deviation(SD) - Price approaching a 2 SD point which indicates a 95% probability of a reversal. 2. Pearson's R coefficient indicates a strong correlation with 91.4% supporting the odds of reversal 3. The trendline fan's confluence with 3SD makes the area extremely strong resistance. 4. The current PCR is trending at 1.27 indicating an over-bought scenario. 5. 21.59 - Volatility Skew indicates market's bearish Sentiment.
Trade Suggestions: Spreads - 1. Bear Put Spread 2. Ratio Spreads -