- TRUUSRT is on an uptrend supported by the ascending trendline support.
- The market hit a swing high and retraced.
- Price is retesting the flip horizontal support, the ascending trendline support and the key zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance.
- Breakout above this descending trendline resistance could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry: the key zone.
- Conservative entry: breakout above the descending trendline resistance.
- Horizontal (@0.1614).
- Horizontal (@0.1784).
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the ascending trendline support.
- Final invalidation: breakdown below the 0.786 level.