Potential beginning of a Bear Major Trend Reversal.
Earlier Bull Trend began in August, the bears tested
fairly strong below the exponential moving average (20)
for the first leg down and break of the bull trend.
After the bear test, the bulls retest back up creating a new swing high
(wedge top- 3 pushes up.). This might be considered a 40% probability trade,
but with a wide enough stop loss, it may be worth scaling into. It could be the starting
point of a bear reversal to at least the previous November Low.
Earlier Bull Trend began in August, the bears tested
fairly strong below the exponential moving average (20)
for the first leg down and break of the bull trend.
After the bear test, the bulls retest back up creating a new swing high
(wedge top- 3 pushes up.). This might be considered a 40% probability trade,
but with a wide enough stop loss, it may be worth scaling into. It could be the starting
point of a bear reversal to at least the previous November Low.
