Reasons...
1. Rejection pinbars at monthly r1, quarterly R1 (didnt plot that but its there)
2. Stochastics overbought on 4 hrs and weekly
3. MACD histogram bearish divergence on higher timeframe (daily)
4. Volume AD and OBV hit the upside of a channel - trendline resistance on 4 hrs, daily, weekly
I went short to yearly S1, previous swing.
1. Rejection pinbars at monthly r1, quarterly R1 (didnt plot that but its there)
2. Stochastics overbought on 4 hrs and weekly
3. MACD histogram bearish divergence on higher timeframe (daily)
4. Volume AD and OBV hit the upside of a channel - trendline resistance on 4 hrs, daily, weekly
I went short to yearly S1, previous swing.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.