Short for me, Here is why.
Daily MACD, RSI and Stochastic are all overbought with signs of turning. After a strong uptrend we have MACD and Rsi Divergences, buy side momentum has slowed down, Resistance level is holding strong, (Potential) Downtrend channel has multiple bounces, Liquidity to the upside appears to have been taken so for me it's short down to 180.000 support levels potentially much further to 174.500 (Previous Resistance turns to Support Level and weekly (huge) FVG). A break above 184.000 will invalidate this and I will look to continue trading with the current uptrend.
Comments welcome, It's only an Idea doesn't mean it will play out so Manage risk and lock in profits.
Daily MACD, RSI and Stochastic are all overbought with signs of turning. After a strong uptrend we have MACD and Rsi Divergences, buy side momentum has slowed down, Resistance level is holding strong, (Potential) Downtrend channel has multiple bounces, Liquidity to the upside appears to have been taken so for me it's short down to 180.000 support levels potentially much further to 174.500 (Previous Resistance turns to Support Level and weekly (huge) FVG). A break above 184.000 will invalidate this and I will look to continue trading with the current uptrend.
Comments welcome, It's only an Idea doesn't mean it will play out so Manage risk and lock in profits.