Entry price: 150-152$
Target price: 135-137$
Stop loss: 153-155$
Chart pattern: double top - the price formed the second top, thus the price reversal is very likely
Candlestick pattern: bearish engulfing
RSI: approaching 70 level, therefore, the price is almost overbought
Conclusions: the chart pattern, candlestick pattern and RSI suggest the trend reversal in the near future. Thus, the short position is recommended with the stop loss above the resistance level.
No financial advice
Target price: 135-137$
Stop loss: 153-155$
Chart pattern: double top - the price formed the second top, thus the price reversal is very likely
Candlestick pattern: bearish engulfing
RSI: approaching 70 level, therefore, the price is almost overbought
Conclusions: the chart pattern, candlestick pattern and RSI suggest the trend reversal in the near future. Thus, the short position is recommended with the stop loss above the resistance level.
No financial advice
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