We had a good entry at the start of the week. Now we are seeing price is finding support at the trendline but overall things are looking down on the technical side of things.
Here is what I think will happen :
Price is going to find resistance at the upper trendline and come down but most likely only going to start really moving down where we see the 2 trendlines...
The holding company for Primark which is known as "Associated British Foods" chart currently shows a classic bear flag formation, with a perfect straight top which is acting as a strong resistance, and an upwards trending bottom support line which mainly seems to be driven by traders looking for small profits within this trading range. There is no real drive to...
. On the Daily timeframe there is a major area of resistance where the market sold off for a long period of time from this level back in September 2018.
. Due to the market reaching the highest highs since 2018, I expect the market to reverse, however there is a possibility price could reach up to the 1.20000 level and the market is just retracing.
. As we can...
STOP LOSS: 2.10000
TAKE-PROFIT 1: 1.89400
TAKE-PROFIT 2: 1.61000
The price action will only going onto TP 2 if the first rectangular box is broken the set a sell-limit @
STOP LOSS: 1.93000