The price has already tested the support and failed to break it. The best thing to do now is to wait for a re-entry into the zone with an upswing and good momentum. Do not take a position if the price exits slowly. Wait for another re-entry or a different type of signal, like a retest of the new upper resistance.
A good SL could be the previous resistance, which can now act as strong support.
Have a great weekend, everyone!
A good SL could be the previous resistance, which can now act as strong support.
Have a great weekend, everyone!
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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.