1. We're still in a uptrend.
2. Trendline gets respected
3. Volume profile and support levels got respected.
4. High volume, very long wick, downtrust candlestick gives a strong reversal signal. The reversal is probably going to happen after a strong correction in the uptrend.
Since there is another volume level I placed a risk/reward ratio of 1 to be sure. TP and stoploss will likely be moved if my prediction was right.
2. Trendline gets respected
3. Volume profile and support levels got respected.
4. High volume, very long wick, downtrust candlestick gives a strong reversal signal. The reversal is probably going to happen after a strong correction in the uptrend.
Since there is another volume level I placed a risk/reward ratio of 1 to be sure. TP and stoploss will likely be moved if my prediction was right.
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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.
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.