There are a few things that I am noting on this trade-setup...
1. The market has respected the capped trend line
2. The tight double top formation at resistance (capped trend line)
3. A pullback to the fibonacci zone after the break of the neck line on the double top
4. The moving average pinned by a pin bar
There are a few factors in confluence here that makes this a good quality short setup in my opinion.
I am now short with
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