We have a potential trading range opportunity setting up. Price appears to be moving down towards the support area. It's still early so anything can happen. We will have to watch this stock and see if price goes where we want it to. If it does, we should look for bullish evidence around the support area. You can use a variety of methods to determine that including indicators and/or candlestick patterns. I am more of a candlestick type of guy. We want to also make sure that it fits within whatever our R:R is. You will be able to determine this with experience, but 2:1 or 3:1 is usually a good place to start. Be sure to always use proper risk management and trade at your own discretion. Happy trading!
Order cancelled
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Broke out which invalidated. On to the next opportunity.