This is one of my favorite types of setups! We had a strong break above some major price structure resistance.
When this happens we typically get a drawback to that major level to test it as support.
That is what I'm looking for with this setup is a drawback and price action to show support for a chance to get long.
I've drawn out my major target as well as several smaller take profit levels along the way.
If we fail to get the drawback or hold at support after a drawback, this setup may become invalidated.
When this happens we typically get a drawback to that major level to test it as support.
That is what I'm looking for with this setup is a drawback and price action to show support for a chance to get long.
I've drawn out my major target as well as several smaller take profit levels along the way.
If we fail to get the drawback or hold at support after a drawback, this setup may become invalidated.