KDA - M Pattern

15 May 2022

We can see that our KDA trend is starting to stall out after going on an almost 100% rally to the upside. Our old support (green arrows) is currently acting as new resistance (red arrow). Taking a short here gives a good RR with the SL being above our last high. If we break our neckline of $2.80 we could see a move somewhere near the $2.40 level.