Break and retest of key trendline + horizontal level
simple stop loss above the last horizontal level.
The consolidation (circled in purple) should keep the price down. If it doesn't, then this trade is invalidated.
The consolidation (circled in purple) should keep the price down. If it doesn't, then this trade is invalidated.
Note
Here is a look at the key trendline break from the higher timeframe:Note
Update: it has created a big range now and did a fakeout to the upside, trapping the sellers.
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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.