Is it the top of $GOOG? Daily reversal scenario
$GOOG big announcement on re-organization caused a huge gap in the stock, right where its previous top was, near 680$.
That gap created two bearish patterns:
1. Daily double top.
2. Hourly bearish Bat pattern.
Regarding pattern 1, we still have to see how the day ends. A pinbar will be great for the potential bearish daily reversal.
For the second pattern - 650$ and 630$ are my target levels for this setup
Stop loss can go above previous high
See a video discussing this pattern - goo.gl/xNmmAS
That gap created two bearish patterns:
1. Daily double top.
2. Hourly bearish Bat pattern.
Regarding pattern 1, we still have to see how the day ends. A pinbar will be great for the potential bearish daily reversal.
For the second pattern - 650$ and 630$ are my target levels for this setup
Stop loss can go above previous high
See a video discussing this pattern - goo.gl/xNmmAS
