Cup and Handle formed on Standard Bank.
The price broke above the brim, then it came back down to give a conservative entry.
7>21>200
RSI>50
Target R200.00
WARNING
The biggest issue is that a GAP has formed during the formation. Statistically, gaps close 70% of the time, which means we can expect downside to come in the next few days.
Look the bias is bullish but with the gap makes it a medium probability trade.
The price broke above the brim, then it came back down to give a conservative entry.
7>21>200
RSI>50
Target R200.00
WARNING
The biggest issue is that a GAP has formed during the formation. Statistically, gaps close 70% of the time, which means we can expect downside to come in the next few days.
Look the bias is bullish but with the gap makes it a medium probability trade.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
💰FREE Discord:
discord.gg/c8f37kyv35
Twitter:
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)