Bull Trap
6400 to 7500
Potential rise to 8100 within macro downtrend channel
Break out of trend at 8100
6400 to 7500
Potential rise to 8100 within macro downtrend channel
Break out of trend at 8100
Trade active:
Breakdown has occurred short profitable.
Scenario a)
If 6500 region holds a potential right shoulder may form seeing a rise to 7100 and further significant downside.
Stop moved on short to 7250 - (Right shoulders traditionally smaller size.)
Scenario 2: 6500 breaks and trade closes at 6100 15% return
(reversal zone undefined)
Scenario a)
If 6500 region holds a potential right shoulder may form seeing a rise to 7100 and further significant downside.
Stop moved on short to 7250 - (Right shoulders traditionally smaller size.)
Scenario 2: 6500 breaks and trade closes at 6100 15% return
(reversal zone undefined)