As you can see in the chart it is a really simple idea, there is after an uptrend two consecutive tops with a hit of the support line between them. When this support line is broken it acts as a confirmation of the double top pattern. Now it is confirmed, it successfully broke to the downside and made a pullback to hit that line again which now acts as a strong resistance.
In my opinion, with this level broken the next stop is 210$ so i will consider to enter a short at 280$ with a stop loss at 294$ and targets 254$ and 208$.
I would be glad to see what do you think in the comments and don't forget to give a boost if you agree with me.
In my opinion, with this level broken the next stop is 210$ so i will consider to enter a short at 280$ with a stop loss at 294$ and targets 254$ and 208$.
I would be glad to see what do you think in the comments and don't forget to give a boost if you agree with me.