Monday's trading ranges offer excellent opportunities to trade your favorite assets. Currently, the price is retesting Monday's low, which previously acted as support, establishing it as a key support/resistance (S/R) level.
Trading Strategy 1: Short at S/R Level
Enter a short position at the current retest of Monday's low.
Set your stop-loss just above the Monday low for invalidation if the price breaks cleanly above it.
Monitor for signs of the level holding as support, which could negate the short setup.
Trading Strategy 2: Short on Deviation
Wait for the price to deviate the S/R level and then return below it.
Use the deviation high as your stop-loss for clear invalidation.
Enter a short position once the price falls back below the S/R level.
Trading Strategy 1: Short at S/R Level
Enter a short position at the current retest of Monday's low.
Set your stop-loss just above the Monday low for invalidation if the price breaks cleanly above it.
Monitor for signs of the level holding as support, which could negate the short setup.
Trading Strategy 2: Short on Deviation
Wait for the price to deviate the S/R level and then return below it.
Use the deviation high as your stop-loss for clear invalidation.
Enter a short position once the price falls back below the S/R level.
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.