A short setup is coming into play. Price now is looking extended as we approach daily resistance where multiple rejections and decline in strength are seen. Price continues to show exhaustion, yet buyers are not giving up. However, upon a break and close into the bearish zone will validate this setup. Until then we will be monitoring, stacking confluence and allowing the trade to breathe.
A good risk to reward is expected.
Happy Trading!
A good risk to reward is expected.
Happy Trading!