If the previous price levels hold and we form a triple bottom at the marked up support, we could continue the long uptrend and break out of the wedge with higher lows & higher highs. Targeting next area of supply. No boxes drawn, quite new to tradingview so not good with the tools here. Let me know what you think, this is JUST an idea. NOT an investment opportunity. Take trade at your own risk. Stop loss just below the area of demand (support) + ATR/spread and RR minimum 1.5, with small position trailing on breakeven.
Works ONLY if we bounce off the same level and have a nice bullish candlestick or some other early bullish confirmation. Otherwise this is only to observe, until that happens, it can go either way.
Keep things SIMPLE. SIMPLE PRICE ACTION FOR THE WIN!
Works ONLY if we bounce off the same level and have a nice bullish candlestick or some other early bullish confirmation. Otherwise this is only to observe, until that happens, it can go either way.
Keep things SIMPLE. SIMPLE PRICE ACTION FOR THE WIN!
Comment:
Correction: we don't need to see another rejection off the same level (triple bottom) as we already have 2 rejections from the same zone, just as long as we have a bounce off the 1790 level to the upsidewith bullish confirmation (candlestick) then we can look to go long. Alternatively, wait for price to bounce off the bottom, form a Higher Low, and enter buy after the bounce from the higher low with appropriate risk. Good Luck!