price increased significantly last few days and it reached the resistance area
at 65.14. The price respected that level few times already and it is more likely that it will do it again. Moreover, the price action formed the shooting start candlestick
bar, which is considered as a reversal pattern. It means, there is a shift from buying to selling. The bears are going to sell sometime soon and it is the best area to do so.
In addition, TMUS
formed a bat pattern
, which increases the probability of this setup and provides the entry and exit points. Plus, nice risk/reward ratio.
T2 – 61.8%
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