Context:
price is in a downward channel , where we currentyl are at an oversold condition and near the demandline of
the upward channel , which per se is a nice confluence level to lookout for a reversal trade , however as
long as we are conatined within the downchannel , there is still weakness present ,
Trade Opportunites:
Long:
reversal at oversold and demandline of a channel
Short:
Retracement at supplyine of downchannel
reversal at 50% mark 77600
Signs of strength:
upchannel
Signs Of weakness:
downchannel
Support:
76400
75600
Resistance:
77400
77600
invezted.com
price is in a downward channel , where we currentyl are at an oversold condition and near the demandline of
the upward channel , which per se is a nice confluence level to lookout for a reversal trade , however as
long as we are conatined within the downchannel , there is still weakness present ,
Trade Opportunites:
Long:
reversal at oversold and demandline of a channel
Short:
Retracement at supplyine of downchannel
reversal at 50% mark 77600
Signs of strength:
upchannel
Signs Of weakness:
downchannel
Support:
76400
75600
Resistance:
77400
77600
invezted.com
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.
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.