- Price has previously dipped and tested the daily support level before shooting to the upside
- Our positive trendline dictates a continuation, however we see a closed bearish candle breaking this
- this could have 2 indications (1. an oversell and we will see a correction putting us back into our zone 2. a break of this trend and a fall to our daily support level that has been previously tested)
In conclusion
We should be on the look out for a correction and will then enter after a candle confirms this
and we should be looking for a fall to the support level and then look to enter after confirmation price has been rejected.
- Our positive trendline dictates a continuation, however we see a closed bearish candle breaking this
- this could have 2 indications (1. an oversell and we will see a correction putting us back into our zone 2. a break of this trend and a fall to our daily support level that has been previously tested)
In conclusion
We should be on the look out for a correction and will then enter after a candle confirms this
and we should be looking for a fall to the support level and then look to enter after confirmation price has been rejected.