GOOG - double top test before reversal
GOOG recently had two legged pullback to MA in a bull trend, measured move target has been achieved and now it's should be reversing up to recent test of high at 774 area and either bull trend resumption or forming double top/higher high for the major trend reversal.
This is a lower than 50% probability trade, this is why risk:reward is 1:2 on this one.
If triggers above 748, take profit target is 774 (strong resistance there) while stops just below recent bar at 735 (and should be tightened and placed under entry bar if it turns out to be good looking bull trend bar).
This is a lower than 50% probability trade, this is why risk:reward is 1:2 on this one.
If triggers above 748, take profit target is 774 (strong resistance there) while stops just below recent bar at 735 (and should be tightened and placed under entry bar if it turns out to be good looking bull trend bar).
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