$SLI
$SLI for traders that entered on the retest and spinning top confirmation at support, the initial pivot bull reversal played out as expected, showing buyers stepping back in to defend the level.
However, this week’s candle structure is important to take note of, as price is now printing a dark cloud cover, signaling that sellers are starting to push back after the bounce.
From a psychological standpoint, bulls need to be cautious here, as failure to reclaim momentum increases the risk of forming a potential double top.
If the week closes with a confirmed dark cloud cover on Friday, it suggests fading upside momentum and profit-taking pressure.
For traders who took the pivot bounce off support, this area may be appropriate to trim exposure and trail stops, allowing profits to be protected while respecting the possibility of further downside rotation.
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