Here we saw the market in a down trend making lower highs which was violated when price broke out of the trend line and a higher high was formed. Price pulled back to the trend line which now seems to of turned into support and we also see there is a demand zone at the same point.
- Demand zone
- resistance turned support
- engulfing candle
- new up trend potentially forming
- Demand zone
- resistance turned support
- engulfing candle
- new up trend potentially forming
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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.