The main level I'm interested in is the support at 50.00. If the price reaches that level, I will start thinking about bullish opportunities.
Let's assume that happens. The pattern I want to see is:
First: breakout of the current descending trendline
Second: a corrective movement with similar proportions to the red line you can see on the chart
IF all that happens, I will develop setups towards the next relevant level at 160.00. The horizontal yellow line you can see on the chart is a price level I will use to move my stop loss to break even because it may work as a reversal zone. This setup may become available between 30 to 60 days. In the meantime, it's important to have patience and avoid getting involved with low-quality scenarios.
Thanks for reading, and feel free to share your view on the comments ;)
Let's assume that happens. The pattern I want to see is:
First: breakout of the current descending trendline
Second: a corrective movement with similar proportions to the red line you can see on the chart
IF all that happens, I will develop setups towards the next relevant level at 160.00. The horizontal yellow line you can see on the chart is a price level I will use to move my stop loss to break even because it may work as a reversal zone. This setup may become available between 30 to 60 days. In the meantime, it's important to have patience and avoid getting involved with low-quality scenarios.
Thanks for reading, and feel free to share your view on the comments ;)