Wait for the price to bounce off from the resistance area which become support area
Wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar , etc
Then initiate BUY order
/!\ **Disclaimer**/!\ The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.
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Sell Scenario Can also be foreseen :
Resistance Area breakout Failed [Done.]
wait for the price to be rejected from the resistance area [Done.]
wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar , etc [Done.]
Initiate SELL Order with a small position
Strengthen SELL position onces the neck line is broken [shoulder head shoulder Pattern]
Trade active
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Sell Scenario confirmed. Small position taken, a larger position will follow after breaking the neck line.