Gotta love when you catch that wave and ride that bad boy. Start light and scale and always practice risk management and DTR define the risk. Will be watching this one closely sticking to my trading strategy. And when price dips of the top of the channel, trail that stop and lock in profits!! Scalp On!
Time to reverse the SCALP. Took profits on the retracement at the support, identified the tweezer bottom and reversed the scalp to long position with running the trailing stop as this may be the BIG BOUNCE we're looking for.
Scalp trade in play here, when price hit the resistance level 12400, got in with a short and trailed the stop all the way down. If price holds at current support level 12000, be on the look out for consolidation and a bounce along the upward trend.
Analysis: LT downward trend line broke out to theupside in March 2020, bullish with price targets atprevious high 12416.868
Price Action: is consolidating toward the upside. Pennant formation forming with continuation to updside.
Trade: watch to see if previous highs are rejected, watch for the reverse and short, but for now stay with uptrend and look for break...
