Blur is facing intense selling pressure, creating a resistance level for any upward movement. We’re also seeing a bearish divergence, coupled with wicks that are consistently facing sell-offs at the resistance points. Bull flags that are gearing up for another leg up don’t react this way. I’m going to keep building up my short position and the stop loss is highlighted. My take profit is the liquidity level down at the previous low.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
Trade closed: target reached:
The short played out amazing. My stop is in profits and I’ll let this play out.