Context:
price is still in a decline as seen on the series of lower highs and lows , we currently trade at
the 50% mark of the last downswing + near the supplyline , if price breaks this level we might
test the brokne support now resistance at 58115 again . any rejection at this level will bring us down to 56750 respectively 55600
Trading opportunities:
Long:
breakout + pullback at 57350 50% mark
reversal at minor support 56750
short:
reversal at supplyline respectively the 50% mark at 57350
reversal at broken support now resistance 58115
Signs of strength:
minor support
Signs Of weakness:
downtrend
Support:
56750
55600
Resistance:
57350
58115
invezted.com
price is still in a decline as seen on the series of lower highs and lows , we currently trade at
the 50% mark of the last downswing + near the supplyline , if price breaks this level we might
test the brokne support now resistance at 58115 again . any rejection at this level will bring us down to 56750 respectively 55600
Trading opportunities:
Long:
breakout + pullback at 57350 50% mark
reversal at minor support 56750
short:
reversal at supplyline respectively the 50% mark at 57350
reversal at broken support now resistance 58115
Signs of strength:
minor support
Signs Of weakness:
downtrend
Support:
56750
55600
Resistance:
57350
58115
invezted.com
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.