IBP is setting up for a lovely short on high time frames. After a prolonged topping, it lost critical support on the monthly, which would suggest a return to highs has a better than not chance of failure. A liquidity steal just above ATH would not surprise me, and I've place my biggest short orders there with a reasonable stop based on the r/r and my position size.
This is a trade setup I love to take. Most often it works out, but on a large time frame patience is key. It may take a couple months to play out one way or the other.
This is a trade setup I love to take. Most often it works out, but on a large time frame patience is key. It may take a couple months to play out one way or the other.
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