(Summary) On this chart I have highlighted a possible historical price pattern swing trade. I'm referencing price action from last summer which in some ways has exhibited similar price behavior to this years price action. I'm looking for price to put in a solid footing at 169 range notice last summer before price was able to break to the upside and complete it's measured move it consolidated around the previous highs this type of price action may also occur before this trade fully initiates.
(WARNING) The RSI is near overbought territory this may mean that ranging as I spoke about above or a pullback may have to occur before this trade can initiate.
(Pullback) If a pullback does occur i'm looking for support near the 166-167 range to say bullish for this swing trade. I will keep those interested updated through the comment section.
(Side Note) Like last time patience will be key and I will be actively trading around this position. Remember price action is the only thing that should be traded and not opinions.
(WARNING) The RSI is near overbought territory this may mean that ranging as I spoke about above or a pullback may have to occur before this trade can initiate.
(Pullback) If a pullback does occur i'm looking for support near the 166-167 range to say bullish for this swing trade. I will keep those interested updated through the comment section.
(Side Note) Like last time patience will be key and I will be actively trading around this position. Remember price action is the only thing that should be traded and not opinions.