Setup
Price broke out of a triangle pattern but after a successful test of prior highs at 200 psychological resistance, dropped back to the broken upper trendline of the triangle only to rebound back to the big 200 level.
Signal
The price snapped below its rising trendline on the daily chart as well as a price pivot at 196 - and RSI fell below support from the 50-level before rebounding sharply to form a new multi-week high. A daily close over 200 should confirm the uptrend has resumed.
Price broke out of a triangle pattern but after a successful test of prior highs at 200 psychological resistance, dropped back to the broken upper trendline of the triangle only to rebound back to the big 200 level.
Signal
The price snapped below its rising trendline on the daily chart as well as a price pivot at 196 - and RSI fell below support from the 50-level before rebounding sharply to form a new multi-week high. A daily close over 200 should confirm the uptrend has resumed.
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(A weekly digest of the best trading education from around the web)
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Read and watch more educational trading content:
tradingwriters.com
(A weekly digest of the best trading education from around the web)
tradingwriters.substack.com/
Read and watch more educational trading content:
tradingwriters.com
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.