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Short Opportunity

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Reasons to take the short position:
  • Price has confirmed to be followin a new channel.


*There is a lot of resistance near the upper channel.

* Price has been rejected py the resistance once support.

* MACD has crossed over the signal

* The MACD and the stochastic are both showing divergence

*Price action is showing a bearish engulfing bar after the Harami (Mother and baby) was formed near the ceiling.

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