revg - swing trap with t30 setup

28 Oca 2018

Nice looking swing trade setting up on revg which could be the start of wave 3. recently broke out from double bottom with good bullish momentum up 40% in just a couple of months and we have a chance to get in on the pullback here with Swing trap and t30 setup. sellers got in this stock which then traded sideways buyers tried to get in but was quickly pushed out with sellers taking control again price closing below prior swing low with few consecutive red days but price was quickly rejected below the 30ema also leaving us with T30 candle were price has closed back above the 30ema. Swing traps can be a nice pattern to trade on pullbacks which are easy to spot they are typically abc correction but t30 can be a very powerful reversal candle at the beginning of a wave 3 will look to enter this trade next week.