I only take positions on the daily/weekly chart when trading equity as they are not open 24/7 and I find my win rate is higher historically. I have taken this setup.
A simple setup
Reasons to go short
- Rejection candle on the 50MA
- support at 889 level
- descending trendline
- candle on the 06th Jan 2017 broke through previous days candle
- stop goes above the rejection candle