Reversal channel breakout
Potential price breakout of a reversal channel towards a key support area.
Counter movement: If price breaks current resistance area upwards, retrace and form new support area; then price will potentially move towards a key area (previous lower high on the daily timeframe). Place pending orders above and below resistance area and let the price play out.
Counter movement: If price breaks current resistance area upwards, retrace and form new support area; then price will potentially move towards a key area (previous lower high on the daily timeframe). Place pending orders above and below resistance area and let the price play out.
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