Break out of the 1 day downtrendline.
4H chart Rsi gives a overbought situation, what could be a sign for a correction back to the
day downtrend line breakout.
4H chart strong uptrendline resistance line touched,
what could be a sign also for a correction back to 7800.
Entry's 4 chart: wait till a pullback to the trendline of the 1 day chart. (7600-7700)...
Entry's :
- $442 fib retracement of 0.54.
- $433-$438 Strong support trendline
Wait till there is a spike candle with support on it, than entry it.
Targets:
- $510 Strong resistance.
Stop order:
- Put it alittle bit under the trendline.
In case of a break out of the downtrend line, i would wait till there comes a pullback to the trendline.
Than entry it, stop order 1% lower. Take profits: 50% of the amount selling on 10k ( strong resistance ) 50% selling of the amount on 12k ( strong resistance also)
