I have mentioned almost all the points on the above chart.
Right at the movement, GRS has broken the weekly resistance with a green engulfing candle.
From here two possible scenarios,
1. The next candlestick would be going to test the new support which was resistance before at 2156. Most probably on 1st test 95 percent of the chances are the retracement.
2. 2nd scenario would b that the next candle is going to find a new resistance and then it is going to retest the support.
I would go with the first scenario because the candle has breakout the upper trend line as well.
Important Point:
Whenever a certain level is break whether it is support or resistance, after that the next move is usually the retest/ retracement of the broken level. And when it is rejected from that level, then you can enter the trade.
Avoid entering the trading while the body of candle has already formed or the candle is in between the two levels.
Always try to enter the trade near the support and resistance level after rejections for maximum profits.
Trade Safe and manage your money properly.
Don't invest all of your money in a single asset. Divide it.
If you have 10 trades going on, and out of those 10 , 7 trades are losing and 3 trades are going successful, but the overall percentage is going up then you are good trader.
Practice and be patient.
Right at the movement, GRS has broken the weekly resistance with a green engulfing candle.
From here two possible scenarios,
1. The next candlestick would be going to test the new support which was resistance before at 2156. Most probably on 1st test 95 percent of the chances are the retracement.
2. 2nd scenario would b that the next candle is going to find a new resistance and then it is going to retest the support.
I would go with the first scenario because the candle has breakout the upper trend line as well.
Important Point:
Whenever a certain level is break whether it is support or resistance, after that the next move is usually the retest/ retracement of the broken level. And when it is rejected from that level, then you can enter the trade.
Avoid entering the trading while the body of candle has already formed or the candle is in between the two levels.
Always try to enter the trade near the support and resistance level after rejections for maximum profits.
Trade Safe and manage your money properly.
Don't invest all of your money in a single asset. Divide it.
If you have 10 trades going on, and out of those 10 , 7 trades are losing and 3 trades are going successful, but the overall percentage is going up then you are good trader.
Practice and be patient.