In Progress or Preparing to Buy
What does this strategy entail?
The instrument is in a short-term downward trend over several days, having been sold off on company-specific news flow or due to overall market or sector weakness. The price then finds support at the swing low, with the candle structure showing signs of improvement (buyers starting to enter). The strategy is ideal for ultra short-term/active traders looking to capitalize on a potential bullish reversal.
Note: The technical trend rating could also read: high bearish momentum / approaching oversold.
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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