Two scenarios. One Long. Two Short.
Fundamentals:
-
Scenario 1 (Orange arrow)
Target: Next resistance level (upper red rectangle)
Requirments:
- retake of first resistance level 1 (red line)
- generating higher highs on the 1 hour chart after retake
Invalidation / SL:
- Fall under first resistance level 1 (lower red rectangle) after retake AND generating lower low swings on the 1 hour chart
Time duration: days, weeks, months, years... ;)
Scenario 2 + 3 (blue arrows)
Target: Next support level (upper red rectangle)
Requirments:
- retake of level 1 (red line)
- break under level 1
- engage on lower swings
Invalidation / SL:
- No break above it
- No lower swings
Time duration: days, weeks, months, years... ;)
Good luck
Fundamentals:
-
Scenario 1 (Orange arrow)
Target: Next resistance level (upper red rectangle)
Requirments:
- retake of first resistance level 1 (red line)
- generating higher highs on the 1 hour chart after retake
Invalidation / SL:
- Fall under first resistance level 1 (lower red rectangle) after retake AND generating lower low swings on the 1 hour chart
Time duration: days, weeks, months, years... ;)
Scenario 2 + 3 (blue arrows)
Target: Next support level (upper red rectangle)
Requirments:
- retake of level 1 (red line)
- break under level 1
- engage on lower swings
Invalidation / SL:
- No break above it
- No lower swings
Time duration: days, weeks, months, years... ;)
Good luck
Note
Price above level 1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.