• trendline has been touched two times ever since the market has been in a bearish trend since the highest peak
• the downward trendline broke but market didn't go far from the breakout but went to retest the newfound support area
• at this support area i see a railway track/bullish engulfing sort of reversal candlestick on the M1
• so for entries i'll be looking for a break to the upside of the red trendlines which i drew based off the D1 and H4 timeframes
• market has formed two trendlines and market seems to be converging at the apex which signals a breakout so it's about waiting to see what the market does
• it could break to the downside or upside either way i'll adapt and seek entries regardless
feel free to correct me thanks :)
• the downward trendline broke but market didn't go far from the breakout but went to retest the newfound support area
• at this support area i see a railway track/bullish engulfing sort of reversal candlestick on the M1
• so for entries i'll be looking for a break to the upside of the red trendlines which i drew based off the D1 and H4 timeframes
• market has formed two trendlines and market seems to be converging at the apex which signals a breakout so it's about waiting to see what the market does
• it could break to the downside or upside either way i'll adapt and seek entries regardless
feel free to correct me thanks :)