I had a long position and took profit after the candles couldn't go above where they are now. At first I didn't understand why it wasn't moving up. Then I drew the blue trendline and realized that it was because of that. It has been trying to break the blue trendline for a while now. Do you think it will break the line or go down? I am a beginner trader. Please let me know. Thank you.
@transparent-fx, Hi, Thanks for sharing. I think I will do the same.
Mian_Wang_trading_official
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As you know, I saw the same but without your trendline. I would say it will break up an hit the top of the rending channel you printed in yellow. If you look at the lower timeframe you see the Elliot wave with two different correction moves.
In trading there is no 100%.
But I would still stay long here.
If you look at the weekly time frame, the main trendline is also short but still far far away.