Price has broken above a slide parallel of a downsloping media line and it's heading up to another one where we may see that it was rejected several times previously (red arrows). At that level we have previous structure, and the 0.618 fib retracement of a long term down move. That's a great zone to watch for short setups in the upcoming week. In case price breaks this parallel we should wait and see if it will reach the upper parallel of the pitchfork where depending on the structure we should watch for a setup once again.
Comment:
Price has reached the slide parallel. We may start looking for sell setups at this level
Comment:
Setup completion at the level: Tp and sl as shown at the chart
Trade closed: target reached:
We may now move stoploss to breakeven at second position
Trade closed: target reached:
100% success trade