Looking at our trend timeframe we see price continuing to respect it’s downtrend, stochastic rsi showing momentum in favor of bears with no signs of reversal. Last time we were at this price we saw a run from 200000 up to 1300000, will price action repeat itself?
Shifting over to our pattern timeframe we see price has formed a triangle, do we see continuation or a reversal here? A daily close above 282500 activates our trade, however if rejected at this level expect a our sell of to continue towards 200000. Stochastic RSI showing momentum in favor of bulls, leaning towards a break towards the upside.
