Double Trendline Rebound:
Price has bounced decisively from the confluence of:
This confirms the trend has changed from bearish to bullish
Trading Opportunity: False Breakout Setup
Wait for a false breakout above next blue resistance zone (marked on chart)
Stop Loss: Below the pullback
Take Profit: Next blue resistance zone
Price has bounced decisively from the confluence of:
- Daily trendline support
- Weekly trendline support
This confirms the trend has changed from bearish to bullish
Trading Opportunity: False Breakout Setup
Wait for a false breakout above next blue resistance zone (marked on chart)
Stop Loss: Below the pullback
Take Profit: Next blue resistance zone
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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.
Related publications
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.