NASDAQ:RP
Hi, traders!
An idea for those who understand the nature of a false breakout.
If u dont understand it - write me to learn.
What's on a chart.
We are approaching a strong level 67, reinforced by round numbers.
Instrument is trying to update the historical high.
I expect a retest at 9th bar, but I guess we can't take this level the first time.
Firstly, we've had more than 10% rolling up motion, secondly, we're going to a long retest.
I think we're gonna have to work off a false breakthrough.
For those who love the rebound model: wait to price will be fixed above the level, then, after retest from top to bottom - enter the rebound.
Hi, traders!
An idea for those who understand the nature of a false breakout.
If u dont understand it - write me to learn.
What's on a chart.
We are approaching a strong level 67, reinforced by round numbers.
Instrument is trying to update the historical high.
I expect a retest at 9th bar, but I guess we can't take this level the first time.
Firstly, we've had more than 10% rolling up motion, secondly, we're going to a long retest.
I think we're gonna have to work off a false breakthrough.
For those who love the rebound model: wait to price will be fixed above the level, then, after retest from top to bottom - enter the rebound.
Trade closed: target reached