Price Seems to be just about to hit the trend line again witch leaves and posable entry point.
SETUP
If the price breaks through the trend we have a Long position setup with targets around 49.90 and a stop at 49.15.
On the downside, if price rebound off the trend we could be looking at another run to the support at 48.55. This gives us a short entry with targets at 48.65 and a stop at 49.65.
I have added in a small triangle to where the candles seem tight around the price, could be an indicator of pressure towards the upside.
SETUP
If the price breaks through the trend we have a Long position setup with targets around 49.90 and a stop at 49.15.
On the downside, if price rebound off the trend we could be looking at another run to the support at 48.55. This gives us a short entry with targets at 48.65 and a stop at 49.65.
I have added in a small triangle to where the candles seem tight around the price, could be an indicator of pressure towards the upside.
Trade closed: stop reached