COTI - SHORT SETUP

Sep 30, 2021

Here we see a bearish diagonal formation on Coti that has begun to break down (1hr). On a smaller timeframe we appear to have just broken down from a symmetric triangle formation (15min), further adding to the bearish bias.

Upon entry a target was devised using fibonacci retracement, aiming for the .382 of the move up. A stop loss placed inside the diagonal gives a 6/1 return/risk.