Description
⋅ Two scenarios. One Long. One Short.
Fundamentals:
-
Scenario 1 (Orange arrow)
Target: Next resistance level (upper red rectangle ). Recent swing top.
Requirments:
- Monthly close above the orange rectangle.
- Higher swings above it
Invalidation / SL:
- Fall under orange rectangle AND generating lower swings.
Time duration: days, weeks, months, years... ;)
Scenario 2 (blue arrow)
Target: Next support level
Requirments:
- break under orange rectangle
- break under 50% fib
Invalidation / SL:
- Break above orange rectangle
- No Break under 50% Fib
Time duration: days, weeks, months, years... ;)
Good luck