after several months of consolidation, price has completed a head and shoulders pattern and started to move down.
Thereafter, there was another 4 weeks consolidation with same low for 4 weeks.
Nearing the 4 weeks low support, 3 x h4 #trappedtraders signal was spotted. I am taking this as impending signs of bearish breakout, and hence I am willing to stake more in this short. Of course in doing so, I must also set a stop loss above last week’s high in order to mitigate risk. Any drop below this support will send price into space below.
price smashed the 4 weeks low after the trappedtraders signal, closing with a power bearish day. My conviction on the proprietary indicator has strengthened and I will continue to observe and improve it.