Buy - 1W/1D/4H
Thick yellow trend line is a weekly down trend that has 3 touches. I'm seeing the market make its move up to the trend line and plummets down after hitting the weekly trend line. But right now I believe it's hitting these key points in order for it to have enough power to move up to the trend line. It broke through a 4H past resistance turned to support, then eventually broke through and now is re-testing the previous resistance. Blue eclipse shows break through of daily downtrend, showcasing the trend reversal, adding onto my case of the market moving to the upside.
Placed stop loss right underneath the trend line and the support line for possible drawback to those two key zones to help boost its move to the weekly trend line. Looking at a really good play/setup here.
Thick yellow trend line is a weekly down trend that has 3 touches. I'm seeing the market make its move up to the trend line and plummets down after hitting the weekly trend line. But right now I believe it's hitting these key points in order for it to have enough power to move up to the trend line. It broke through a 4H past resistance turned to support, then eventually broke through and now is re-testing the previous resistance. Blue eclipse shows break through of daily downtrend, showcasing the trend reversal, adding onto my case of the market moving to the upside.
Placed stop loss right underneath the trend line and the support line for possible drawback to those two key zones to help boost its move to the weekly trend line. Looking at a really good play/setup here.