Bullish trap in CESC: Ascending channel.

٨ مايو

Two points are showing a bullish trap in CESC chart (daily timeframe):-

1. Prices are exhausting in the channel. A volume spike is needed for the channel breakout, which is missing here.

2. Prices made higher highs, but RSI made lower highs, showing divergence. This means there are good chances for a bearish breakout.

3. A failed breakout from the lower channel will pull prices back to test the higher trendline of the channel. RSI breaking the 75+ will be a bullish signal for the prices to go for the higher targets.

٢٨ مايو

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