CRV hit ATL and now approaches top of channel!
Ill keep this one nice and simple.
CRV hit an all time low recently. it did this while following its downward channel to a T.
What i believe is important to note, is the new resistance level created by breaking a new low. More importantly, CRV is currently testing that resistance level while simultaneously hitting the upper limits of the channel it has been following!!
due to the unique nature of this situation, i will not be immediately looking for a short. But if theres a strong bounce off resistance, i will be entering short and looking to TP at the next ATL.
On the other hand. CRV just made an all time low!!! if its going to break the channel and find some room to breath; that time is now.
a break through resistance with little pullback, and ill be taking a long position into the next resistance level (unmarked, sorry)
CRV hit an all time low recently. it did this while following its downward channel to a T.
What i believe is important to note, is the new resistance level created by breaking a new low. More importantly, CRV is currently testing that resistance level while simultaneously hitting the upper limits of the channel it has been following!!
due to the unique nature of this situation, i will not be immediately looking for a short. But if theres a strong bounce off resistance, i will be entering short and looking to TP at the next ATL.
On the other hand. CRV just made an all time low!!! if its going to break the channel and find some room to breath; that time is now.
a break through resistance with little pullback, and ill be taking a long position into the next resistance level (unmarked, sorry)
Comment:
CRV slightly breaking the channel upwards. eyes on for a better break up and retest for entry,
follow the waves