Trade active at $8149
Pennant may fly up for a bull trap at some point however so far so good.
Potential bounce zones to scalp
Expecting a bounce to 7800 soon and will reshort using the 30% profit
Looks like the bounce has hit the 38.2 and completed. Reshorting using the 30% profit I took with stop loss above 7900
As stated earlier, the price could've flown up back into the pennant. I will remain bearish and think it is a bull trap however will wait for confirmation. This could've been a corrective elliot wave
I sense a bull trap coming. Theory will be invalidated if volume picks up on the break of 8600