Check out the following 4 types of trades based on the above chart.
1. For Breakout LONG- * If prices closes above Green line. * Target = 2-3%/Previous High/major MA/Fibonacci level * SL = Same Green line (if price closes below it!)
2. For Breakdown SHORT- * If prices closes below Red line. * Target = 2-3%/Previous Low/major MA/Fibonacci level * SL = Same Red line (if price closes above it!)
3. For Support LONG- * If prices closes above Red line. * Target = 2-3%/Green line/Previous High/major MA/Fibonacci level * SL = Same Red line (if price closes below it!)
4. For Resistance SHORT- * If prices closes below Green line. * Target = 2-3%/Red line/Previous Low/major MA/Fibonacci level * SL = Same Green line (if price closes above it!)
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