We have seen 2 indecision candles on the daily timeframe, a doji and a shooting star. These have formed in an area of resistance last tested in June 2015.
When we drop down onto the 1 hour chart we can see RSI divergence, indicating a trend may be weakening and also the formation of a head and shoulders pattern.
I'm in short with a stop above the head and a take profit at the last meaningful level of structure.
When we drop down onto the 1 hour chart we can see RSI divergence, indicating a trend may be weakening and also the formation of a head and shoulders pattern.
I'm in short with a stop above the head and a take profit at the last meaningful level of structure.