Why a new jump on longs is likely
I've tried to put as much useful information as possible on the chart.
Not only showing the trade, but also the story leading up to the trade.
The shorting zone is our key factor here. This is were price reacts to and from. After breaking this zone, it acts as a very strong support. This in combination with the new longing trendline and the fact that price has yet to reach more important S&R - makes me believe there is a more long coming. On the plus side, we have very good odds and an easy to use S/L zone backing us up.
Good signs, good odds - never 100% certain but at this point in time I'm happily taking this trade.
*EDIT: Previous LTF tops, I meant HTF tops :)
Not only showing the trade, but also the story leading up to the trade.
The shorting zone is our key factor here. This is were price reacts to and from. After breaking this zone, it acts as a very strong support. This in combination with the new longing trendline and the fact that price has yet to reach more important S&R - makes me believe there is a more long coming. On the plus side, we have very good odds and an easy to use S/L zone backing us up.
Good signs, good odds - never 100% certain but at this point in time I'm happily taking this trade.
*EDIT: Previous LTF tops, I meant HTF tops :)
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