The price reached 71.00 level and bounced from it. We got a trend reversal signal based on a divergence. and MAD histogram confirmed the reversal.
We could sell below 69.00 level with stops above 71.00 and profit targets at MAs. As you can see, the price reached the target, and we could make good profit.
What's next? The price is at the formed by the local uptrend line and SMA200. If we get a reversal, it will be possible to open long positions with stop below the local swing low.
If the price breaks the support, we must be ready to see the further downward movement. Probably the market will give us a sell opportunity as well. Let's wait for a possible pullback to the uptrend line, if the price drops below it. After that, a reversal signal will be used for selling. Stop orders for sell trades will be placed above the local swing high.