$CVX Short trade on one pair 🔴
Bearish trade setup - Confirmation of a lower high after strong rejection!
Its price rose to $2.850, but it faced strong rejection at the resistance area.
The price has since retraced, forming a potential lower high, showing signs of weakness in the short term.
If it breaks the support level of $2.716, a deeper decline may follow.
The price is consolidating below the resistance level with a bearish bias - ideal conditions for a sell trade.
Set the stop loss (SL) above the recent high to avoid extended declines.
Once the price surpasses the $2.70 level, move the stop loss level to lock in early profits.
Trade setup (Sell):
Entry price: $2.735 - $2.760
Target 1: $2.667
Target 2: $2.619
Stop loss: $2.805
Trade here$CVX