Standard S/R Pullback and rebound.
Presumption:
1) Price has broken Red Resistance now becoming Support. There is also a mini trend at same level.
2) Presumption is that price will go up to Green line Resistance level where profit should be taken.
Risk - The Overall trend is Bearish and price could very well continue past the Red Support level where the price may break and then come back to retest.
Best of luck to you all, any suggestions very welcome. Best of Luck :)
Presumption:
1) Price has broken Red Resistance now becoming Support. There is also a mini trend at same level.
2) Presumption is that price will go up to Green line Resistance level where profit should be taken.
Risk - The Overall trend is Bearish and price could very well continue past the Red Support level where the price may break and then come back to retest.
Best of luck to you all, any suggestions very welcome. Best of Luck :)