Overall we trading in a large descending channel, but looking at where the price currently traded, a tight ranges of support resistance has hold the price for a few trading days, short trade will only be valid if we can see a break below recent support area with a retest to confirm the new resistance. Waiting for some extra confluence such as a high test candle closed or engulfing will give you extra confidence to enter the trade.
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
Disclaimer the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. _________________________________________________________________________________________________________________________________________