You can see that we are currently sitting around a major Sell region. We have received a Double Top formation. We have received a solid Bearish candle. We have received a Monthly -68 Fib completion. These are all nice indications for a possible short set-up.
Nota
We were moving in an ascending channel, making HHs and HLs. We broke the ascending channel and the last HL. We have received a solid bearish candle. This was all indication for a short set-up.
Nota
On the Daily chart we are also in a downtrend as we broke the ascending channel/Last HL. We have received a bearish impulse as indication. We do expect a confirmation in the form of a Natural W pattern. Clear Supply & Demand zone sitting at the region of interest (100.00 Fib).
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