Hello Traders,
Price reversed from a daily support level and it has the potential to move higher towards the descending trend line,
Wait for a break of Resistance (Ceiling)
Wait for a RETEST (Price Closes Above the previous level of Resistance)
Once Price Confirms Resistance as New Support(Floor). Enter the Trade.
If Price fail to reach above resistance zone, we have a continuation of a downtrend and only sell order will be place.
Good luck to you all.
If you liked this idea, please like, follow and comment.
This idea does not provide any financial advice.
Price reversed from a daily support level and it has the potential to move higher towards the descending trend line,
Wait for a break of Resistance (Ceiling)
Wait for a RETEST (Price Closes Above the previous level of Resistance)
Once Price Confirms Resistance as New Support(Floor). Enter the Trade.
If Price fail to reach above resistance zone, we have a continuation of a downtrend and only sell order will be place.
Good luck to you all.
If you liked this idea, please like, follow and comment.
This idea does not provide any financial advice.