On "Long on Breakout," I was looking to go long on a breakout close, which failed to happen thus no trade opportunity. Price action was rejected twice on the descending trend line.
A shorting opportunity is probable, and the same close on breakout condition remains. Downside targets are in blue.
This is the perfect reason why a close confirmation is needed and why trades are not entered on "breaks."
As always, non-biased. Will short or long when opportunities present themselves.