Reasons-
1) Weekly & monthly trend is down as per 200 ema & Ichimoku Cloud.
2) Current market structure is sideways/trendless.
3) Wyckoff distribution phase.
4) Decisive rejection from the upper range (key resistance) on the daily chart.
5) Small stop for reward 3x the risk taken.
6) Fibo golden ratio 0.618
Kindly trade at your own risk.
Good Luck ^_^
1) Weekly & monthly trend is down as per 200 ema & Ichimoku Cloud.
2) Current market structure is sideways/trendless.
3) Wyckoff distribution phase.
4) Decisive rejection from the upper range (key resistance) on the daily chart.
5) Small stop for reward 3x the risk taken.
6) Fibo golden ratio 0.618
Kindly trade at your own risk.
Good Luck ^_^
