Expecting a pullback to the EMA12 on the daily. Should be a fairly short trade. Reason for the trade is the formation of a pattern I have found very reliable over the last two months, that occurs on dumps. Two triangles, one finishing with a lower low and the next with a higher low than the last. It is accompanied by bullish divergence
on the RSI
. I am expecting a short term reversal of this bearish trend
Stop loss below 9700 as a move below 9700 would invalidate the pattern.
Open - 9930
TP1 - 10622
Stoploss - 9693