Price action analysis identified LSE:ASC (ASOS) downtrend continuation and short opportunity. Reversal pin bar candle trigger, confluence with; rejection of falling trend line, rejection of 50% fib retracement, rejection of 50 WMA and rejection of previous support becomes resistance.
With ASOS LSE:ASC recently breaking out through the previous all-time high
which was around £72 back in 2014 we may have a trading opportunity soon.
So far price seems to be struggling to gain some steam and currently appears to have found some comfort
around the previous all-time high and is gravitating towards that zone again.
When we see a break of an all-time...