Yes, probably.
Price has reached the top of the current ascending channel. Couple this with the bearish divergence shown on the chart above, shorting seems like an easy choice to make. Or at least taking profit at this area if you have been long all morning like I have.
The first target is shown. If the price reacts strongly to this resistance then it will be a good idea to close the whole trade there in profit.
And of course, to state the obvious... If price breaks above the upper end of this channel, then don't short. Obviously. That would indicate a good time to enter LONG ;D.
Price has reached the top of the current ascending channel. Couple this with the bearish divergence shown on the chart above, shorting seems like an easy choice to make. Or at least taking profit at this area if you have been long all morning like I have.
The first target is shown. If the price reacts strongly to this resistance then it will be a good idea to close the whole trade there in profit.
And of course, to state the obvious... If price breaks above the upper end of this channel, then don't short. Obviously. That would indicate a good time to enter LONG ;D.
Comment:
Channel broke. No sell :)
