Context:
price is in a downward channel , where we currentyl are at an oversold condition and near the demandline of
the upward channel , which per se is a nice confluence level to lookout for a reversal trade , however as
long as we are conatined within the downchannel , there is still weakness present ,
Trade Opportunites:
Long:
reversal at oversold and demandline of a channel
Short:
Retracement at supplyine of downchannel
reversal at 50% mark 77600
Signs of strength:
upchannel
Signs Of weakness:
downchannel
Support:
76400
75600
Resistance:
77400
77600
www.invezted.com
price is in a downward channel , where we currentyl are at an oversold condition and near the demandline of
the upward channel , which per se is a nice confluence level to lookout for a reversal trade , however as
long as we are conatined within the downchannel , there is still weakness present ,
Trade Opportunites:
Long:
reversal at oversold and demandline of a channel
Short:
Retracement at supplyine of downchannel
reversal at 50% mark 77600
Signs of strength:
upchannel
Signs Of weakness:
downchannel
Support:
76400
75600
Resistance:
77400
77600
www.invezted.com