$RC (Ready Capital) : Beautiful Suplly & Demand Setup
Key intakes:
1. Gargantuan bearish down thrust back in March 2020, giving away the bears' whereabouts.
2. Price retraced to the range where the bears are stationed, with weak momentum.
3. Trigger candle confirming the set (so far), in June 2022. Powerful break below the previous structure.
4. Price retested previous support/new resistance + EMAs, which held successfully.
Trailing the price with the 10 EMA could be a good option. Always with the demand zone as the ultimate target.
Note: I do not trade stocks short. Although this appears to be the path of least resistance, I will make no exception here, as usual.
Manage risk!
Manage risk!
Manage risk!
1. Gargantuan bearish down thrust back in March 2020, giving away the bears' whereabouts.
2. Price retraced to the range where the bears are stationed, with weak momentum.
3. Trigger candle confirming the set (so far), in June 2022. Powerful break below the previous structure.
4. Price retested previous support/new resistance + EMAs, which held successfully.
Trailing the price with the 10 EMA could be a good option. Always with the demand zone as the ultimate target.
Note: I do not trade stocks short. Although this appears to be the path of least resistance, I will make no exception here, as usual.
Manage risk!
Manage risk!
Manage risk!