Bullish Momentum + Strong Price Rejection = Sign of Reversal
I shorted this Market due to the following reasons:
Price is currently inside a Big Ascending Channel
Inside it, it formed recently a Mini Ascending Channel which is a sign of reversal.
Other reasons why I shorted this market:
- STRONG MOMENTUM followed by STRONG PRICE REJECTION (a Sign Of Reversal as what I've noticed during backtesting)
- Price broke below 10EMA and formed an Inside Bar
Trade at your own risk!
Price is currently inside a Big Ascending Channel
Inside it, it formed recently a Mini Ascending Channel which is a sign of reversal.
Other reasons why I shorted this market:
- STRONG MOMENTUM followed by STRONG PRICE REJECTION (a Sign Of Reversal as what I've noticed during backtesting)
- Price broke below 10EMA and formed an Inside Bar
Trade at your own risk!
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.