We see from the chart price has been moving in a downtrend, recently consolidated for a bit, then broke out and is now trying to find support.
Can we see a LONG run? Let's find out.
What we would need:
Markup:
The yellow vertical line is a visual of where we are trapping price.
The dotted trendline is a visual showing the break of the trend.
The solid trendline is a visual showing price respecting the movement.
Can we see a LONG run? Let's find out.
What we would need:
- Retest of the trendline
- Support being shown
- Price Action/Candlestick Patterns
Markup:
The yellow vertical line is a visual of where we are trapping price.
The dotted trendline is a visual showing the break of the trend.
The solid trendline is a visual showing price respecting the movement.
Note
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The orange line is where I assume resistance will be for the next few candles.
Still moving the direction for our setup.
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We should see a push happening hereNote
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If you view the live data above as of this comment - price is looking for support which seems like the breakout is the potential target for a setup - just as it did before!Wouldn't that be a treat !
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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.