FTM - Trio Retest!
Hello Trading Family, FTM is approaching an interesting area. What I call "TRIO RETEST"
Here is why => The Highlighted Purple Circle is the intersection of Three key rejection levels/zones.
Retest 1: Brown Trendline
Gold is overall bullish and currently testing the brown trendline which acts as non-horizontal support.
Retest 2: Lower Red Trendline
The lower red trendline is the lower bound of the channel which I consider as an oversold area.
Retest 3: Green Support - 1.9-2.0
The green level is a previous resistance turned into support
As per my trading style/plan:
I will zoom in to lower timeframes and look for bullish reversal setups (like a double bottom, trendline break, and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck
All Strategies Are Good; If Managed Properly!
~Rich
Here is why => The Highlighted Purple Circle is the intersection of Three key rejection levels/zones.
Retest 1: Brown Trendline
Gold is overall bullish and currently testing the brown trendline which acts as non-horizontal support.
Retest 2: Lower Red Trendline
The lower red trendline is the lower bound of the channel which I consider as an oversold area.
Retest 3: Green Support - 1.9-2.0
The green level is a previous resistance turned into support
As per my trading style/plan:
I will zoom in to lower timeframes and look for bullish reversal setups (like a double bottom, trendline break, and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
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RichTL.com
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
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