Traders,
We've hit trendline resistance, which co-incides with .786 retracement of the previous swing move. Also we've had an oversold reading on the stochastic, and the stochastic lines have began to cross. Bearish sentiment confirmed on multiple timeframes.
We've had some bearish candles confirming trend line integrity.
All the best.
UPDATE: Todays trading session did indeed gap up breaking the channel. This does effect the integrity of this trade, but I have faith that if trading is continiously bearish AND breaks the trigger line, this short will still be valid.
We've hit trendline resistance, which co-incides with .786 retracement of the previous swing move. Also we've had an oversold reading on the stochastic, and the stochastic lines have began to cross. Bearish sentiment confirmed on multiple timeframes.
We've had some bearish candles confirming trend line integrity.
All the best.
UPDATE: Todays trading session did indeed gap up breaking the channel. This does effect the integrity of this trade, but I have faith that if trading is continiously bearish AND breaks the trigger line, this short will still be valid.