After a nice run up today, BNX is looking like it's broadening in an ascending formation. I tried to catch the top of the corrective wave and am trying to accumulate some more in here but I think I may not be able to get much more.
This trade I'm leaving broad, and I'm really unsure about this so I'm not risking a lot on the wallet, and so r:r isn't great (3:1). Usually I'm grabbing more towards 5:1 in setups I'm really comfortable trading so this isn't the highest quality trade I'm posting by far.
My average entry is 56.1326, and SL at 58 so I'm leaving this one really wide waiting for total invalidation but you can play it tighter. Take some profit along the way if you're trying to trade this. I don't know what will happen, but I suspect the uptrend will get busted here and you'll see a nice head and shoulders soon and other traders will follow me into this short.
We'll see - can't predict the future so dyor and keep your risk managed appropriately.