REVERSAL Idea - Capitec Bank - first down to R2400 then up 2900
Broadening Pattern has formed with Capitec.
When this pattern forms it bounces between ranges.
Right now it bounced off the top of the range, and is most likely to come down 50% from the most recent rally.
Once it comes down to a target of R2,400 then it could consolidate move sideways and then breakup to the next target at R2,900.
This is a little different from breakout trading, but I was asked for an analysis around this.
When this pattern forms it bounces between ranges.
Right now it bounced off the top of the range, and is most likely to come down 50% from the most recent rally.
Once it comes down to a target of R2,400 then it could consolidate move sideways and then breakup to the next target at R2,900.
This is a little different from breakout trading, but I was asked for an analysis around this.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.