Spar just broke below and it's BAD! Target R103.61
Inverse Cup and Handle has formed over the last month for the retail giant.
The price yesterday broke below the Brim level.
This makes it bearish for downside to come.
200>21>7
RSI<30
Target R103.61
SMC -
Above the Handle of the Cup is a Buy Side Liquidity Order Block. This is where Long traders BOUGHT and Short Traders got stopped. Where the BUYING took place with retail traders is where Smart Money came swept the liquidity and sold into it causing strong selling.
With the bad rand, the load shedding, the world markets in turmoil - we are seeing selling to come for JSE stocks as of late.
The price yesterday broke below the Brim level.
This makes it bearish for downside to come.
200>21>7
RSI<30
Target R103.61
SMC -
Above the Handle of the Cup is a Buy Side Liquidity Order Block. This is where Long traders BOUGHT and Short Traders got stopped. Where the BUYING took place with retail traders is where Smart Money came swept the liquidity and sold into it causing strong selling.
With the bad rand, the load shedding, the world markets in turmoil - we are seeing selling to come for JSE stocks as of late.
✅ 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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