A) PRICE WAS IN STUCK IN A RANGE ON THE DAILY TF UNTIL PRICE BROKE BELOW THE RANGE AS SEEN ON POINT A, CREATING A LL.
B) PRICE THEN CAME BACK UP & RE-TESTED THE BREAK, REJECTING WHAT WAS ONCE A SUPPORT ZONE & BECOIMG A RESISTANCE ZONE/LH IN THE PROCESS.
C) PRICE NOW BREAKS BELOW OUR PREVIOUS LL & FORMS A NEW LL.
D) PRICE HAS NOW COME BACK UP TO OUR PREVIOUS SUPPORT ZONE & HAS CREATED SOME WICK REJECTIONS, MEANING THIS COULD NOW BE OUR NEW RESISTANCE ZONE BEFORE WE SEE PRICE CONTINUING TO CREATE A BEARISH TREND.
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B) PRICE THEN CAME BACK UP & RE-TESTED THE BREAK, REJECTING WHAT WAS ONCE A SUPPORT ZONE & BECOIMG A RESISTANCE ZONE/LH IN THE PROCESS.
C) PRICE NOW BREAKS BELOW OUR PREVIOUS LL & FORMS A NEW LL.
D) PRICE HAS NOW COME BACK UP TO OUR PREVIOUS SUPPORT ZONE & HAS CREATED SOME WICK REJECTIONS, MEANING THIS COULD NOW BE OUR NEW RESISTANCE ZONE BEFORE WE SEE PRICE CONTINUING TO CREATE A BEARISH TREND.
IF YOU LIKE THIS TRADE IDEA PLEASE HIT THE LIKE BUTTON!