Looking at the TOP40 Index, we may derive the following from the weekly chart:
1. Price is at a notable resistance level where many rejections have occurred.
2. Prince is backtesting the weekly trend line break (purple line).
3. I am favouring a move to downside.
4. Since we are at a high, the risk is far less than trying to short once the move has occurred (if it does).
5. As always - maintain your risk management.
Let's see what happens.
Note: The views provided herein do not constitute financial advice.
1. Price is at a notable resistance level where many rejections have occurred.
2. Prince is backtesting the weekly trend line break (purple line).
3. I am favouring a move to downside.
4. Since we are at a high, the risk is far less than trying to short once the move has occurred (if it does).
5. As always - maintain your risk management.
Let's see what happens.
Note: The views provided herein do not constitute financial advice.
