This setup has a favorable risk-to-reward ratio, especially with QTUM showing overbought conditions on the RSI and a bearish MACD crossover. The tight stop-loss at $3.550 minimizes risk while targeting decent profit levels.
However, as with all short trades, timing and market conditions are crucial. Watching the volume is a great tip; declining volume at resistance could confirm a reversal, while a spike might indicate a breakout.
Do you plan on taking this short trade, or are you more focused on longer-term positions?
