WWE - rising channel
Updated
What we can see on the chart is a strong resistance and a support level that have been tested multiple times before. The lines are forming an upwards channel. The price hit the resistance, so we are expecting that the price will go down.
The stochastic was overbought the previous days, now it is pointing downwards.
How to trade:
Enter the short position only when/if the price breaks down out of the rising channel. Do not forget the stop loss to protect your capital.
The stochastic was overbought the previous days, now it is pointing downwards.
How to trade:
Enter the short position only when/if the price breaks down out of the rising channel. Do not forget the stop loss to protect your capital.
Note
The trading idea is still valid. The price is moving slowly. Wait for a breakdownTrade active
Breaking down right now.Note
nice follow through so far
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