Daily down trendline with fib retracement. Looking for further confluences closer to entry to validate
Comment:
Price interacted with sell zone and closed a daily candle as a bearish shooting start.
Yesterdays market profile has also left excess at highs and a poor low
30 min chart is showing OBV divergence and a head and shoulder pattern
Entry through the break of the counter trend line or price pattern neckline
To reduce risk over the Christmas period when liquidity and volume might be lower causing increasing spreads and maybe creating unfavourable conditions, buying a put options with an expiry into January would be best.
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Yesterdays market profile has also left excess at highs and a poor low
30 min chart is showing OBV divergence and a head and shoulder pattern
Entry through the break of the counter trend line or price pattern neckline
To reduce risk over the Christmas period when liquidity and volume might be lower causing increasing spreads and maybe creating unfavourable conditions, buying a put options with an expiry into January would be best.