- Essentially EC has a long retracement to make and the market is in a severely over sold condition.
- So I believe these EQL's being spiked and price reversing to the upside sharply is sign of a sponsorship candle I believe price would return to so the level can be satisfied.
- There is also a divergence is price, current price action's trend doesn't correlate with the RSI's trend which signals a shift in momentum.
- There is a 12 pip risk for a 115 pip reward and a potential 1:10 r/r,
- So I believe these EQL's being spiked and price reversing to the upside sharply is sign of a sponsorship candle I believe price would return to so the level can be satisfied.
- There is also a divergence is price, current price action's trend doesn't correlate with the RSI's trend which signals a shift in momentum.
- There is a 12 pip risk for a 115 pip reward and a potential 1:10 r/r,