Based on the Relative Strength Index (RSI) indicator, there is currently a divergence present. Once the first HL (Higher Low) is broken, and first LH (Lower High) and LL (Lower low) are formed this would confirm the formation of a bearish trend. I plan to enter a short trade with a 1:1 risk/reward ratio.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.