Hello everyone,
I'm posting once again an idea follow the previous one (linked to this one).
It did breach the bottom bar of the triangle but bounced back on the 37.4 support,
Also, it didn't came back at the previous level but bounced on the 37.2 resistance,
We should wait and see what direction it's going to take, you can either anticipate a possible sell or buy (and placing the SL at 1/2 or 3/4 of the corridor as showed in the example) or simply wait for a clear direction taken!
If you enjoy my work, leave a LIKE and FOLLOW! Thank you!
I'm posting once again an idea follow the previous one (linked to this one).
It did breach the bottom bar of the triangle but bounced back on the 37.4 support,
Also, it didn't came back at the previous level but bounced on the 37.2 resistance,
We should wait and see what direction it's going to take, you can either anticipate a possible sell or buy (and placing the SL at 1/2 or 3/4 of the corridor as showed in the example) or simply wait for a clear direction taken!
If you enjoy my work, leave a LIKE and FOLLOW! Thank you!
Note
Wow, one candle reversal : (Wait for a direction)
Note
Big rejection front resistance, the green candle was half rejected : Note
Bottom bar breached!Note
Note
Bounced back from under the support/resistance : Note
I've updated the chart following the supports and also the sideways corridor it's into right now : There is no real direction so far, when it goes down, it goes rejected and vice-versa.
Wait until we have a clear direction.
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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.