TRADE UPDATE: Investec Plc not looking good but the 200MA ...
Cup and Handle formed on a larger scale.
21>7 - Bearish
Price >200SMA - Bullish
RSI >50 -lower highs - Cautious
1st Target R142.49
Unfortunately, it's not looking good for the trade. It's close to the Stop loss.
It's for this reason I lowered the stop loss level below the 200MA. An order block formed which created Sell Side LIquidity. This is where Smart Money comes in and sweeps in all the sells (Buyers - stops) and Shorters (entries).
So if Smart Money is buying into this, we could get some upside. But like I said the trend has turned down and we mustn't get our hopes up.
21>7 - Bearish
Price >200SMA - Bullish
RSI >50 -lower highs - Cautious
1st Target R142.49
Unfortunately, it's not looking good for the trade. It's close to the Stop loss.
It's for this reason I lowered the stop loss level below the 200MA. An order block formed which created Sell Side LIquidity. This is where Smart Money comes in and sweeps in all the sells (Buyers - stops) and Shorters (entries).
So if Smart Money is buying into this, we could get some upside. But like I said the trend has turned down and we mustn't get our hopes up.
✅ 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)
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