Timonrosso

Truworths showing downside to R40.21 thanks to Rev Inv C&H

ショート
JSE:TRU   TRUWORTHS INT LTD
Reverse Inverse Cup and Handle formed over the last few months.
Then there was a Rising Flag formation, which is a consolidation period before further downside.
We need the price to break below, to get a stronger sell signal to the downside.
MAs = mixed
RSI<50
Target R40.21

SMC
Buy Side Liquidity (Order Block) formed at the TOP of the handle of the Cup. This is where Long traders Bought at these levels, this is where Short Sellers got stopped (had to rebuy). And Smart money came in and swept the buying and sold into it - which pushed the price down.
So I'm quite confident the bias overall is down.

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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