- Price closed under the resistence area which indicate a high chance of bearish reaction to the resistence zone
- We can observe that price been following an uptrend line, a breakout will add up as confirmation to the bearish possibitlity
- A retest can be seen as price confirming respect towards the resistence area and the trend breakout as well. It can also be seen as a great entry zone for it put your trades in a great risk/ reward ratio of 2.5 but you can also wait for price rejection as a stronger bearish confirmation.
*Educational purpose only
- We can observe that price been following an uptrend line, a breakout will add up as confirmation to the bearish possibitlity
- A retest can be seen as price confirming respect towards the resistence area and the trend breakout as well. It can also be seen as a great entry zone for it put your trades in a great risk/ reward ratio of 2.5 but you can also wait for price rejection as a stronger bearish confirmation.
*Educational purpose only
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.