In Progress or Preparing to Sell/Reduce
What does this strategy entail?
The instrument is in a short-term upward trend over several days, having been bought on company-specific news flow or due to overall market or sector strength. The price then trades into and finds resistance at the swing high, with the candle structure showing signs of deterioration (sellers starting to enter). The strategy is ideal for ultra short-term/active traders looking to capitalize on a potential bearish reversal.
Note: The technical trend rating could also read: high bullish momentum/approaching overbought.
The tickers highlighted assume no existing position held by the trader while the setup is confirmed on the preferred candle structure developing during the upcoming session(s).
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