IF I AM A BULL: Currently price is at resistance (bearish trend and consolidation zone). I do not want to buy into resistance. My two options are to wait for a strong break and retest of resistance zones. Or wait for a deeper retracement of the previous upswing (about 50% to 78.8%) before looking for a buying opportunity. Waiting for a deeper retracement creates more space to get a better risk to reward ratio. The buyers have a lot of traffic overhead to get through. As a buyer look for breakout bear traps at the buy zones. As always wait for price action to confirm the reversal.
IF I AM A BEAR: After a strong up move, price is now trading at the top of the bear channel and within the previous consolidation zone. I am looking for selling opportunities at the various resistance zones indicated on the chart. As a seller look for breakout bull traps at the sell zones. As always wait for price action to confirm the reversal.
I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.