Market conditions are horrendous, few drawdowns but chin-up, those who succeed are the ones that fail and keep going.
As shown in the graph, we may see a rejection to the marked zone since it was previously tested and rejected, may reason to me is that we had an impulsive move, so since retracing 30% to 50% that candle points back to that support, it is likely that we may see it again, SnR + Divergence + Impulsive moves, those are the reasons for my analysis. If it rejects I will be going short if we to our support and take partial profits, if we encounter a breakout I will be milking it
As shown in the graph, we may see a rejection to the marked zone since it was previously tested and rejected, may reason to me is that we had an impulsive move, so since retracing 30% to 50% that candle points back to that support, it is likely that we may see it again, SnR + Divergence + Impulsive moves, those are the reasons for my analysis. If it rejects I will be going short if we to our support and take partial profits, if we encounter a breakout I will be milking it