Price as discussed in weekly time frame ( related ideas) rejecting from the trend line, as said after confirming the rejection we can go for short trades.
AS seen in the pic price is forming a parallel channel pattern at the weekly trend line which is the rejection levels, wait for the channel break and enter the short trade.
If channel breaks up then the above analysis is invalid look for long trades, don't jump in long trade immediate.
AS seen in the pic price is forming a parallel channel pattern at the weekly trend line which is the rejection levels, wait for the channel break and enter the short trade.
If channel breaks up then the above analysis is invalid look for long trades, don't jump in long trade immediate.
Note
Price breaks down strong as expected.
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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.