As you can see, we have a very strong resistance level that price has touched five times, and each time it has been rejected.
Our job now is to look at the higher-timeframe trend and make decisions based on the market’s past behavior.
📌 Plan A:
We expect another rejection from this resistance area.
If price reacts from this level and our trigger confirmation appears, we will consider taking a short position from the zone we marked.
📌 Plan B:
We place a Buy Stop above the resistance, because when price hits a level five times, that level gradually loses its strength.
I mentioned the Buy Stop because there is a chance price may break the level with a strong impulsive candle and not give us a pullback, leaving no opportunity to enter the market.
Our job now is to look at the higher-timeframe trend and make decisions based on the market’s past behavior.
📌 Plan A:
We expect another rejection from this resistance area.
If price reacts from this level and our trigger confirmation appears, we will consider taking a short position from the zone we marked.
📌 Plan B:
We place a Buy Stop above the resistance, because when price hits a level five times, that level gradually loses its strength.
I mentioned the Buy Stop because there is a chance price may break the level with a strong impulsive candle and not give us a pullback, leaving no opportunity to enter the market.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.