I liked the rejection at the trend channel line once it got overshoot. It's likely to form the similar channel below, hence, I am thinking of a probable short opportunity here. Consider entering those trades with at least 1:1.5 risk/reward ratio as they're highly likely to bounce and reverse for a test of a trend line and its overshoot after giving overshoot to a trend channel line.
The reason I liked that one is because of strong rejection of a trend channel line, otherwise, I would be looking for a long here.
Track this and other predictions with Market Druids on Facebook (or MarketDruids.com), make your own predictions and track them and your stats against others!
The reason I liked that one is because of strong rejection of a trend channel line, otherwise, I would be looking for a long here.
Track this and other predictions with Market Druids on Facebook (or MarketDruids.com), make your own predictions and track them and your stats against others!