Trade setup: Price remains in an Uptrend. It got rejected at $140 resistance several times now. We would be buyers on pullbacks near $100 - $110 support range, which could be an attractive swing trade entry in Uptrend, with +30% potential upside back to $140. Stop Loss at $92.
Pattern: Price is Approaching Support, which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken. (concept known as polarity). Once price breaks below support, it can move lower to the next support level.
Trend: Short-term trend is Strong Down, Medium-term trend is Up, Long-term trend is Strong Up.
Pattern: Price is Approaching Support, which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken. (concept known as polarity). Once price breaks below support, it can move lower to the next support level.
Trend: Short-term trend is Strong Down, Medium-term trend is Up, Long-term trend is Strong Up.
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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.