Step-by-step
1. Established support level after heavy drop.
2. Price breaks through
3. Price retraces to the scene of the crime
4. Low Volume on retrace confirms weakness
5. Retest rejected to confirm S/R flip
6. Second retest can be a med risk entry
7. Double top with bearish div confirms entry
8. TP at 0.618 and POC
1. Established support level after heavy drop.
2. Price breaks through
3. Price retraces to the scene of the crime
4. Low Volume on retrace confirms weakness
5. Retest rejected to confirm S/R flip
6. Second retest can be a med risk entry
7. Double top with bearish div confirms entry
8. TP at 0.618 and POC
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.