Potential Major Trend Reversal.
1. Bull Trend
2. Test of Moving Averages (20 & 60)
3. Lower High formed
4. Decent Selling Pressure (Consecutive Bear Bars, seen visually, compared to previous Bull Bars)
5. Fairly 50/50 if it will break up or down, but I take the trade because my profit target is potentially 2 x's my initial risk, 1x.
1. Bull Trend
2. Test of Moving Averages (20 & 60)
3. Lower High formed
4. Decent Selling Pressure (Consecutive Bear Bars, seen visually, compared to previous Bull Bars)
5. Fairly 50/50 if it will break up or down, but I take the trade because my profit target is potentially 2 x's my initial risk, 1x.