Reversal Candlestick Forming Off Resistance
In addition to the downward channel we're seeing, which I interpret as the key sign confirming price is in a downtrend, we're seeing what looks like a reversal candlestick on the daily chart (still in formation, at the time of this writing) appearing after a pullback to resistance. I'm short at 51955, with my stop at 52528 and my target profit at 49773. This gives me a reward/risk of over 3.8.
Learn more about trading: bit.ly/15NBR79
Learn more about trading: bit.ly/15NBR79
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.