3 SCENARIOS
1. Breakout Scenario
If price breaks above resistance, it should at least reach the 1st target.
If bullish momentum remains strong, it should continue toward the 2nd target and potentially higher levels.
2. Rejection Scenario
If price is rejected from resistance, there are two possible outcomes:
A) Price may decline toward the lower trendline/support.
B) If the lower trendline/support breaks, price is likely to continue significantly lower, indicating a deeper correction or trend reversal.
1. Breakout Scenario
If price breaks above resistance, it should at least reach the 1st target.
If bullish momentum remains strong, it should continue toward the 2nd target and potentially higher levels.
2. Rejection Scenario
If price is rejected from resistance, there are two possible outcomes:
A) Price may decline toward the lower trendline/support.
B) If the lower trendline/support breaks, price is likely to continue significantly lower, indicating a deeper correction or trend reversal.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.