My favourite price action pattern..! Price breaks above a horizontal resistance level and makes you believe that it will head north. Stops are being washed, everybody give up buying and sellers have an easy job pushing price to the down. Another good sign is that the upper parallel of the channel holds as resistance rejecting price massively.
Going short form current level is a nice idea. Sl and tp as shown in the charts.
Going short form current level is a nice idea. Sl and tp as shown in the charts.