1. Price rally into a Significant Price Flipzone and Demand zone on the Daily Chart 2. Falsebreak above the Flipzone 3. RSI Divergence 4. Emergence of Bearish Price Action and Momentum and the break of 20EMA
Plan: 1. Wait for a Retest of Previous Swing Low to look for Entry 2. Enter on a Break of the Current Low as Price is seem to be consolidating after the Bearish Swing
Do not be hasty. Price is in the transitioning phase. If the Bear are successful in taking control, there will be plenty of opportunity to enter the trade and follow price towards the obvious Daily Support. If not, trail the profit using a preferred EMA, we can do this because Daily 200EMA is Bearish
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Breakout traders are happy. Retracement traders shall move on. :D