Looking at $GM we see price being rejected at 44.00 with an engulfing candle(4H) & TweezerTop (1D), to then re-test the 44.00 price on 6/18
After the re-test, it's been a clean downtrend till the 37.00 price.
Once it bounced off 37.00 it continued to trade sideways for 13 days before it broke down on 8/13.
I expect the price to re-test 37.00 before it continues its way down to 35.00
I've taken a short & will continue to monitor for a bounce at that price
After the re-test, it's been a clean downtrend till the 37.00 price.
Once it bounced off 37.00 it continued to trade sideways for 13 days before it broke down on 8/13.
I expect the price to re-test 37.00 before it continues its way down to 35.00
I've taken a short & will continue to monitor for a bounce at that price
Trade closed: target reached:
I was able to close my position at 35.25 Yesterday
Keeping an eye on 37.00 to see if resistance becomes support or gets rejected down.
Keeping an eye on 37.00 to see if resistance becomes support or gets rejected down.