Overall trend and momentum is obviously bearish on the daily chart.
There was a pin bar formed at key resistance zone yesterday, rejecting that zone nicely.
Everything lines up nicely for a short - TREND, LEVEL, PRICE ACTION.
BUT. This is a big BUT. There is this Scotland Referendum today. No one can know for sure the outcome of the poll. This kind of event can easily throw all the nice technical analysis out of the window.
No matter how tempting this setup looks like, I'm giving it a pass. To take this setup with the referendum around the corner is like buying lottery (read: gambling).
There was a pin bar formed at key resistance zone yesterday, rejecting that zone nicely.
Everything lines up nicely for a short - TREND, LEVEL, PRICE ACTION.
BUT. This is a big BUT. There is this Scotland Referendum today. No one can know for sure the outcome of the poll. This kind of event can easily throw all the nice technical analysis out of the window.
No matter how tempting this setup looks like, I'm giving it a pass. To take this setup with the referendum around the corner is like buying lottery (read: gambling).