RY (Royal Bank of Canada) | 10% Short Trade Setup
Confirmation: 103.60
Invalidation: Local high
Type of Trade: Countercyclical (EMA50 above EMA200)
Target: 92.19
TF:4HR
Leverage: 2x
Pattern: 1) daily double top with 2) trendline break, 3) untested 8/1 Gann, and 4) frothy fundamentals (insufficient loan loss provisions).
Invalidation: Local high
Type of Trade: Countercyclical (EMA50 above EMA200)
Target: 92.19
TF:4HR
Leverage: 2x
Pattern: 1) daily double top with 2) trendline break, 3) untested 8/1 Gann, and 4) frothy fundamentals (insufficient loan loss provisions).
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.