Price has broken below the ascending trendline, indicating a potential shift in market structure. The recent bearish momentum suggests sellers are gaining control. After the breakout, price is now retesting the underside of the trendline, providing a potential short entry opportunity.
Entry: On retest confirmation below the trendline
Stop Loss: Above the recent swing high (red zone)
Take Profit: Toward the previous demand zone (highlighted blue support area)
This setup aligns with trendline break-and-retest principles and anticipates a move back toward significant demand.
Entry: On retest confirmation below the trendline
Stop Loss: Above the recent swing high (red zone)
Take Profit: Toward the previous demand zone (highlighted blue support area)
This setup aligns with trendline break-and-retest principles and anticipates a move back toward significant demand.
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.