Scenario 1: If the previous resistance turns into support this would be a good buying opportunity.
Buy entries: 385 - 390 - Target 1 --> 490 - 500
Target 2 --> 570 - 580
Stop loss: 378 -381
Scenario 2: If the breakout was a fakeout (sorry for the rhyme) and we dip below the resistance, this could turn into a decent short scalping opportunity.
Short entries: 377 - 377 - Target 1 --> 345 - 350 - trending support levels.
- Target 2 --> 290 - 300 - previous support levels.
Buy entries: 385 - 390 - Target 1 --> 490 - 500
Target 2 --> 570 - 580
Stop loss: 378 -381
Scenario 2: If the breakout was a fakeout (sorry for the rhyme) and we dip below the resistance, this could turn into a decent short scalping opportunity.
Short entries: 377 - 377 - Target 1 --> 345 - 350 - trending support levels.
- Target 2 --> 290 - 300 - previous support levels.
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Related publications
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.