Breakout or breakdown? I'm SHORT here is why
Hi fellow traders,
In this idea I have drawn daily supply and demand zones, although the zones of interest exist out of large ranges I think the combination of approaching both a long- and short-term supply zone and a forming rising wedge we are looking at a rejection from the 1h supply zone level.
I will wait on the lower timeframe to confirm the rejection, ideally have a bounce of the bottom of the rising wedge acting as resistance.
What do you think? Are we going to breakdown or breakout?
Happy trading ^^
In this idea I have drawn daily supply and demand zones, although the zones of interest exist out of large ranges I think the combination of approaching both a long- and short-term supply zone and a forming rising wedge we are looking at a rejection from the 1h supply zone level.
I will wait on the lower timeframe to confirm the rejection, ideally have a bounce of the bottom of the rising wedge acting as resistance.
What do you think? Are we going to breakdown or breakout?
Happy trading ^^
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