TradingView
The_Cannalyst
Jun 17, 2016 8:08 AM

Regions with intraday bear trap? 

Regions Financial CorporationNYSE

Description

Yesterday RG started it s tradingsession very weak with a gap down and was traded temporarily below the central pivot support Level @ 8.90$. Per Close, RG could defend this Level - a false breakout or ptential bear trap was formed.
The open gap is the new shortterm resistance . For me, the Region between yesterdays low and the gaps upper edge seems to be neutral -herein is no Action needed.

Interesting are the edges of this neutral Zone.

1. Below yesterdays low, i exspect a temoprarily selloff with TPs 8.6/8.3
2. Only Prices above 9.10 will brighten the Chart.

Comment

exactly kissed 0,5 fibo-retracement

Comment

nearly reached both Targets ;-)
More