Short
$REV - BEARISH SCENARIO
What's ostensible here, re its price action?
- Supply and demand areas. Several touches and both bullish and bearish rejections within the outlined ranges.
- Despite yesterday's rally, this stock is still in a a strong downtrend, at least on my beloved M timeframe.
- Downtrend go steeper and steeper as of the last trendline touch, back in end NOV 2019.
- Is that a Bump & Run Pattern getting formed? That'd be a strong, bullish reversal pattern.
How does this info translate a bearish trade?
1. Wait for prcice to retrace to a bearish value zone, namely somewhere around the intersection of the longer, yellow trendline and the supply area.
2. Wait for a bearosh trigger in that area, like a bearish engulfing pattern.
3. Enter next candle with tp at demand area, sloss above supply and the usual dilligent risk management.
Att!! RSI Discrete bullish divergence + bump & run pattern being formed are good signs of a potential reversal.
Note: r/r ration not fantastic
- Supply and demand areas. Several touches and both bullish and bearish rejections within the outlined ranges.
- Despite yesterday's rally, this stock is still in a a strong downtrend, at least on my beloved M timeframe.
- Downtrend go steeper and steeper as of the last trendline touch, back in end NOV 2019.
- Is that a Bump & Run Pattern getting formed? That'd be a strong, bullish reversal pattern.
How does this info translate a bearish trade?
1. Wait for prcice to retrace to a bearish value zone, namely somewhere around the intersection of the longer, yellow trendline and the supply area.
2. Wait for a bearosh trigger in that area, like a bearish engulfing pattern.
3. Enter next candle with tp at demand area, sloss above supply and the usual dilligent risk management.
Att!! RSI Discrete bullish divergence + bump & run pattern being formed are good signs of a potential reversal.
Note: r/r ration not fantastic
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.