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
Trade closed: target reached
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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.