MGL - SHORT SETUP

7 Tem 2020

MGL

BEARISH SETUP - Breakdown from a rising wedge pattern with massive volumes supporting the bearish momentum.
Also the distribution phase can be clearly spotted with dried up volumes and a sudden breakdown with huge volumes confirms the charge of bears, thus a good downside move can be seen in next few trading sessions.

View: Short on confirmation (once RS breaks zero level from above)

PS: Trade with caution or wait for some more price action.

Diclaimer: Take this view only for educational purpose. Trade on your own risk.
Happy trading!