Or if ALGO breaks above the upper bound of the range (projection in blue), then I will be looking for buy setups on its retest.
As per my trading style: As ALGO approaches one of the circles, (orange or purple) I will be looking for reversal buy setups (like a double bottom pattern, trendline break, and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
What do you think? Which scenario is more likely to happen?
All Strategies Are Good; If Managed Properly! ~Rich
Both scenarios look promising and could provide a nice R:R. Let's see which one will come first: the resistance or the support? Thanks for sharing mate 😊
TheSignalyst
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@financialflagship, exactly Alex. that's all we care about, the RRR. let's wait and see ;)