LSE:RIO – Swing Trade

Rio Tinto (LSE:RIO) has been filtered today for a potential swing trade (short)

– The 5th “Up Day” has produced a Dark Cloud Cover Reversal pattern at resistance (we don’t count “Inside Days” as part of the pull-backs)
– STOP above 3570 resistance. Usually we reset the order if price produces another “up day” but I will cancel the trade all together if we break above this resistance level
– ENTER beneath low of Wednesday’s candle below 3480
– TARGET 3200 area in the gap zone
– Expect price reaction near 3330 swing low
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