SCMA has been bearish for about 8 months before it breaks it's downtrend line and break it's structure.
Potential reversal as there is bullish divergence and potential double bottom pattern.
Buy at 226 and limit the risk at 218 with a potential risk reward ratio of 3.75.
Entry 1000-1050, Stop loss 940, Take Profit 1345.
- Uptrend
- No significant distribution during the pullback.
- Risk reward is good >1:2.
- Retracement at Fibonacci 0.618.
