We have seen 2 indecision candles on the daily timeframe, a doji and a shooting star. These have formed in an area of resistance last tested in June 2015.
When we drop down onto the 1 hour chart we can see RSI divergence, indicating a trend may be weakening and also the formation of a head and shoulders pattern.
I'm in short with a stop above the head and a take profit at the last meaningful level of structure.
Thanks for sharing this, Iam like a sniper trying to catch entry now, bu see the price make a higher than the other tops and is very bullish. Not sure if is gootrime for short yet. Again if you look weekly is a head and sholder reversal patern
jjstrade123
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@roadstermah absolutely, I was wrong on this occasion but managed risk and stuck with the plan! Onto the next 👍
Rocketman
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Hope you enjoyed this trade.
jjstrade123
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@Rocketman, thanks - I enjoy the analysis but the trading is all emotion free!
zAngus
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Thanks and good work on sharing your first idea with the community. We hope it was a fun experience. Hope you have a great day. From mod @zAngus