We are using Capitulation Strategy on this counter.
What we can see from the charts, it has a row of 5 bearish candles that creating lower high + lower low and come along with a confirmation candle. This is a One White Soldier Pattern.
So there's is a high possibility for the price to snap back to the moving averages. Basically we are aiming 2R or further before touching the 50EMA, but in this case, it seems it there's possibility reaching 2R before the touching the moving averages.
What we can see from the charts, it has a row of 5 bearish candles that creating lower high + lower low and come along with a confirmation candle. This is a One White Soldier Pattern.
So there's is a high possibility for the price to snap back to the moving averages. Basically we are aiming 2R or further before touching the 50EMA, but in this case, it seems it there's possibility reaching 2R before the touching the moving averages.