Short idea based on rising wedge from downtrend!

Price on the daily TF is on a downtrend with a nice rising wedge. Drawed R/S levels on the daily TF. I look on the 4H chart to see certain things better and more in depth. Price got rejected on the first daily resistance zone. A nice 'M' pattern has formed, indicating price is going down. Current price has touched the first daily support zone with the 'M' pattern. I also noticed a hidden bullish divergence, indicating price might go up for a bit. This can act as a retracement to the first daily support zone, after price has broken the first support zone level.

- Waiting for price break on support zone lvl 1.
- Pullback to the support zone where the price broke through.
- Entry going short to support zone lvl 2.

Kommentera:

SL hit, a buy option is possible due to the hidden bullish divergence.