We have on weekly TF, price approaching several times at the same level. We need to confirm if the price make the same reversal like what it did few weeks ago. On Daily TF, we start to see the losing buying momentum through shrinking candle when approaching the level. If its true reversal, we need to validate the price action through break below the trendline and forming a HL & LL structure to support our bearish bias. If it does not happen, then the trend still remain bullish until we see another price action forming at the next level.
Using simple entry technique
Step 1:
Waiting for the price to break either above or below trendline depending the direction of the market
Step 2:
Confirm the price to make HL & LL / HH & LH structure (best to look for price to pullback after breakout happen)
Step 3:
Entry point after 2 items above has fully satisfied with SL above the highest/lowest level depending the direction of the market. Use any indicator that suits you
* We may consider the price may retest the next level
Using simple entry technique
Step 1:
Waiting for the price to break either above or below trendline depending the direction of the market
Step 2:
Confirm the price to make HL & LL / HH & LH structure (best to look for price to pullback after breakout happen)
Step 3:
Entry point after 2 items above has fully satisfied with SL above the highest/lowest level depending the direction of the market. Use any indicator that suits you
* We may consider the price may retest the next level