previous move showed that there was a strong bullish momentum which was corrected by the bears and a strong support zone was created, price is currently inside the Resistance turned Support zone. The connecting highs from the downward trend created a valid support with rejections above the support level of the connecting support area, currently the anticipated downtrend has been broken to the upside causing a retest to the trend-line and making the trend-line act as a support for a possible trend reversal. from the chart outlook, I anticipate the price to break through the red zone of the long position with a strong bullish candle to have a valid entry. if this condition is met, we should be rest assured that we're riding to our target.
Order cancelled:
According to the setup, the idea was to wait for the breakout after the retest. Setup is invalidated.