Long
PE still finding resistance after a good bottoming
PE has established some base and the first attempt to break out was accompanied by strong volume as shown in this H2 chart. The candle tested the waters of the gap zone but soon price lost its momentum and is now testing another S/R.
I would wait for a classic breakout and a retest at the 8.00 mark. This will give me confidence that the next move would fill the gap on the left at around 10.40
H2
I would wait for a classic breakout and a retest at the 8.00 mark. This will give me confidence that the next move would fill the gap on the left at around 10.40
H2
Note
Price broke the resistance but it did not show any sign of retest and went down again.I would cancel the trade and wait for another opportunity with a strong breakout and a retest.
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