With today’s close, this is setting up for a juicy short opportunity (assuming no bear trap on low from 10/11/18, or 7/2/18). Currently holding below 50 and 200 MA’s, and broke through support going back to November of 2017. Also, an odd setup, almost derivative of an evening star pattern, but this is at the bottom of a move, and with a different leading candle. If anything, today’s bar confirms a failed swing high from 10/12/18, with dominant force.
Keep an eye on this for a possible short.
Keep an eye on this for a possible short.
Comment:
Multiple failed swing highs, failed reclamation of the 200D MA, and now immense downward pressure. If the support level fails and holds below as we head into the close, will be great setup for a short. Watching closely.
