There are no real signs of strength in the background. In fact, you have a reasonable spread up bar closing off the high on very high volume = weakness right at the start of the up move. The whole up move is then made on decreasing volume = weakness.
Then if you take the 4 bars at the top of the peak (2 up then 2 down), they form quite a nice 4 bar reversal(check out the M30 and se a 2 bar reversal) = possible weakness.
Also, you have a down bar closing on the low on increased volume = weakness.
Not sure I'd have gone short here but, the signs are weak.
As we know the SM use news events to trick us... So this HVWRDB that we;ve seen? is that smart money luring the public in (selling climax) or is it an actual effort to fall.
