As
REV
breaks out of minor and major trendlines, a triangle can be drawn from recent high to the lower support line which has had multiple re-tests and rejections.
As price breaks out of this downtrend, I expect short covering to accelerate as it breaks up through $25 psychological level and $25.25 resistance.
As always, tight-stop and if it rips, let it run
As price breaks out of this downtrend, I expect short covering to accelerate as it breaks up through $25 psychological level and $25.25 resistance.
As always, tight-stop and if it rips, let it run
Trade closed: stop reached:
This trade failed, the tight stop was hit days into the trade.