Hello everyone we have a lot many things happening on the chart indicating a short. First of all we have the price at a previous supply zone and it appears that price has been rejected from that area. Second we also have the price at the 886 retracement of the previous leg down. Third Reason to short is because we have an ascending channel and it appears that we have an ending diagonal right at the very top. Fourth reason is that market conditions are overbought and we also have a macd divergence. Lets wait for the news to pass or well you can take a risky position just before the news but i would wait for the news to go by and perhaps wait for a flag under the channel. We will target at least the 0.382 but i will only consider entries after the breakdown of the channel
Komen:
Komen:
look to sell the flag guys, i am done for the week. Will look for an entry next week
Komen:
Text book perfect. Lets sell this when the market opens
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