Watch for the bullish trend to fail. If it doesn't then this trade is invalid. If it fails then price will be coming back into the box range with strong momentum. Be ready with pending sell stop orders. Price will center back to the 50/100 sma area.
Note
Price did fail to progress the bullish trend and re-entered the range box. The Macd has not crossed below the red line so momentum has not come in yet to drive price to the central core where the ma's are. This could mean an second try to breakout of the range box or the fall is coming.
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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.