I am considering taking a long position on this. My strategy involves waiting for a false break of the support level to occur, which may create some liquidity. Then, I want to see the price break above the support level again, after which I will look to go long on the re-test of the support. To limit my potential loss, I will place my stop loss just below the low point of the false break.
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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.