Why I'm looking to short here:
Obviously:
- We're looking to go with the trend, which has been a bear trend since January.
- Even if we were to try to trade for a breakout above the resistance, we would be trading right into resistance.
Also:
- Price was rejected from resistance
- Bearish Engulfing candlestick pattern with superlarge red candle compared to the previous one.
- RSI rejected at <50
Obviously:
- We're looking to go with the trend, which has been a bear trend since January.
- Even if we were to try to trade for a breakout above the resistance, we would be trading right into resistance.
Also:
- Price was rejected from resistance
- Bearish Engulfing candlestick pattern with superlarge red candle compared to the previous one.
- RSI rejected at <50
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