Downtrend invalidation || reverse trade
Normally this would be a fading trade, price moving lower and lower, but we can see that the last bull candle suggests otherwise. I think it is a bounce off the low of the range that has formed.
The bull candle formed a higher high and thus took people out of their shorts.
We can also see that the RSI is breaking up the trendline and also has a strong base
The bull candle formed a higher high and thus took people out of their shorts.
We can also see that the RSI is breaking up the trendline and also has a strong base
Order cancelled
It's too choppy for now, waiting for a clearer pattern
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.