Top 20 destinations in usa on If the trade was accepted, a reversal exit became applicable below bar 6 (M-pattern middle-part break in round number resistance). Progression 4-8 represents an Mm-variant, a pattern known to harbor even stronger reversal implications than an M-pattern alone. Here it clearly bore evidence of the bulls’ failure to crack the round number defense; how could this not have a demoralizing effect. Bulls who still believed in a comeback from below the round number would have done well not to dismiss the way their combi 7 was countered in bar 8. With this skirmish taking place below a pattern line as well, things certainly didn’t look up. Technically this set up a great short, but there is a little catch: to get to target, prices had to go up against the earlier bull swing 1 -3 . Since this rally was the most notable swing in the chart so far, plenty of bulls may still have been lying in wait for a 50 percent correction. Top 20 destinations in usa 2016.
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