This trade is based on a possible reversal.
The odds are not on my favor due to the fact that we still have yet to break 59k support as well as momentum to the upside.
This trade is based solely on the fact that the ascending trendline has been broken its now at a level of short term resistance.
The bearish engulfing candle on the 4hr suggest that there might be some sellers in this area that might take over the market in the short term. Trade with caution! If this trade if successful, it will offer over 10:1 reward.
Good Luck and do not trade more than 1% on this trade.
The odds are not on my favor due to the fact that we still have yet to break 59k support as well as momentum to the upside.
This trade is based solely on the fact that the ascending trendline has been broken its now at a level of short term resistance.
The bearish engulfing candle on the 4hr suggest that there might be some sellers in this area that might take over the market in the short term. Trade with caution! If this trade if successful, it will offer over 10:1 reward.
Good Luck and do not trade more than 1% on this trade.