Analysis:
QP at .775 was rejected.
vertical support level beginning in June has now been was broken on previous 1D candle.
Expectation:
Expecting a slight retrace to test the trendline and bounce back down.
Entry:
Wait for retest of new vertical resistance.
Look for bearish candlestick pattern
Target Levels:
TP1: 0.750
TP2: 0.725
Invalidation:
This setup becomes invalid if trendline is broken
QP at .775 was rejected.
vertical support level beginning in June has now been was broken on previous 1D candle.
Expectation:
Expecting a slight retrace to test the trendline and bounce back down.
Entry:
Wait for retest of new vertical resistance.
Look for bearish candlestick pattern
Target Levels:
TP1: 0.750
TP2: 0.725
Invalidation:
This setup becomes invalid if trendline is broken