Inverse Cup and Handle formed on Spar and price broke below the brim level.
This sparked fear and lead to a ton of selling and supply.
We had other indicators confirm for the downside to come.
200>21>7
RSI<30
And yesterday, the price went down 15% striking right through the target at R103.61.
Smart Money Concepts
Above the handle, formed a Buy Side Liquidity Order Block.
This is where Smart Money came and swept buying orders and sold into them, which caused the crash.
And it looks like Spar wants to drop even further! But I'll let you know.
This sparked fear and lead to a ton of selling and supply.
We had other indicators confirm for the downside to come.
200>21>7
RSI<30
And yesterday, the price went down 15% striking right through the target at R103.61.
Smart Money Concepts
Above the handle, formed a Buy Side Liquidity Order Block.
This is where Smart Money came and swept buying orders and sold into them, which caused the crash.
And it looks like Spar wants to drop even further! But I'll let you know.
✅ 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)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ 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)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.