Price hit resistance level
on the daily TF that was last hit in April 2016. If you scale down to the 4H TF, Price bounced off the RSI
three times before crossing down. If RSI
closes below the trendline
, we have a chance of shorting. The resistance and support lines are based on the Daily TF.
Possible target can be at the 0.5 fib level or 0.77007
This is for educational purposes only