This sell setup is very clear and simple and all the required conditions are met. In particular:
- There’s a significant divergence between the price, which is pretty much flat, and the RSI Exhaustion, which is falling
- The RSI Exhaustion is bullish exhausted, which means that the price has a limited room to move higher
- We have a new confirmed top
We then exploit the Levels and Zones indicator to set the stop loss and the take profit levels.
In particular, the take profit level is all the way down to the major support because, in between, there’s no major structure that could stop the price. Essentially, if the price starts to move lower, it should be a free fall.