Levels of support typically produce a pop or bounce on the first touch.
There is an untested level of support around $200.50.
SETUP: This is not a prediction price will get to 200.50. However, if or when it does, enter long.
I call this conditional trading.
ENTRY: $200.50
Long position
TARGET: $204
This is an area right below the next area of support left by the long wick at $204.50
STOP: $198.75
Right below the low of the area of congestion where the support level exists
There is an untested level of support around $200.50.
SETUP: This is not a prediction price will get to 200.50. However, if or when it does, enter long.
I call this conditional trading.
ENTRY: $200.50
Long position
TARGET: $204
This is an area right below the next area of support left by the long wick at $204.50
STOP: $198.75
Right below the low of the area of congestion where the support level exists
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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.