Incredible risk reward opportunity here, could be seen as a wedge or a double top breakdown. This is a coinflip I am personally taking.
The indicators are telling us there is some bearish momentum to this one with a low rsi on a retest of the trendline/horizontal support and an already bearish MACD.
Not financial advice.
Honestly not that confident on this one, but the risk reward is good for a coin flip!
MACD is slightly more bullish than bearish.In an uptrend channel, making a flag/wedge.
If EMA doesn't hold, or it's broken. Obvious short.
This opportunity had been shown to me, put my own parameters around the trade for entries and exits etc.
Trading this the length of the head is a trap pretty much, there is a horizontal support it could cut short at. Looks pretty textbook otherwise.
Not financial advice etc.