Expecting a bounce off converging supports
POC line from VPVR and 2 strong trendlines converging at the same point.
Also, the last candle was a strong rejection with a Doji candle.
Expecting at least a retest of the new highs for a 3.9RR initial profit.
Stop loss below the strong support.
Price would have a VERY hard time going past all of the past consolidations from the beginning of December... so the uptrend will likely continue from here!
simple
Here is a look at the RSI from the 1H chart going up, indicating that the market is getting stronger even if the price has not gone up yet!
Also, the last candle was a strong rejection with a Doji candle.
Expecting at least a retest of the new highs for a 3.9RR initial profit.
Stop loss below the strong support.
Price would have a VERY hard time going past all of the past consolidations from the beginning of December... so the uptrend will likely continue from here!
simple
Here is a look at the RSI from the 1H chart going up, indicating that the market is getting stronger even if the price has not gone up yet!
Order cancelled
Price is now consolidating at this very level, so pulling out my limit orders and waiting to see where the consolidation breaks
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.