$IWF Double Top 3 Lower High Bull Failure

Buyers have created a double top from a few days ago which held prices down. Once sellers were able to prove they had the strength to create double tops, they then came in with 3 lower high bull failures completely derailing the bulls from the wedge breakout up. Now, with a fake-break of the wedge top and heavy bear momentum back in, sellers will be hunting for reasons to short down to wedge lows or, at the very least, the congestive lows / closes / wicks.

Kommentar:

Congestive lows would be around 212's but R:R is much worse to target here -- possible scalpers target and risk reduction zone.