While price rejected up and down value area, price currently in a trendline formation. Now price formed a pin rejecting the lower trendline. Combining the value area low with rejection, I anticipate a buy, with SL in swing low, targeting value area high.
Trade active
Price is turning into another value area and disrespect the old one. SL HitTrade closed: target reached
Lessons learnt. When price action was not showed any rejection in the area (notice that before purple trendline formed price was totally passed the level, it is just not a setup. 
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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.