Expect a retest of support in the next few days. Then there will be 2 scenarios :
A) Price bounce marking a double bottom and possible bull run or back to the range
B) Support is broken -> Ideal scenario as this would open up a huge gap to the downside
How to trade it? Well, I have entered on the break of 4H support and will reassess when D support is reached.
Another possibility is to wait until support is reached and then assess there, the R:R will still be great. If using this option u can wait for a long bullish candle to enter long or for a break (or break and retest) to enter short. Theres no right or wrong as long as u follow a plan.
If you have any questions please leave them in comments.
Did you like the idea?? Give us a thumbs up!!
Do you have a different view and analysis? Let us know in the comments. I love to be proven wrong. It is the only way to become better.
Remember that trading is only part of your life. Do not spend all day in front of the screen!!
Surf, Trade, Live!!
A) Price bounce marking a double bottom and possible bull run or back to the range
B) Support is broken -> Ideal scenario as this would open up a huge gap to the downside
How to trade it? Well, I have entered on the break of 4H support and will reassess when D support is reached.
Another possibility is to wait until support is reached and then assess there, the R:R will still be great. If using this option u can wait for a long bullish candle to enter long or for a break (or break and retest) to enter short. Theres no right or wrong as long as u follow a plan.
If you have any questions please leave them in comments.
Did you like the idea?? Give us a thumbs up!!
Do you have a different view and analysis? Let us know in the comments. I love to be proven wrong. It is the only way to become better.
Remember that trading is only part of your life. Do not spend all day in front of the screen!!
Surf, Trade, Live!!
