Trailing stop loss is the key to this trade. Sell only after the right shoulder is formed
A closer look at price action to previously posted analysis.
Both Bullish impulse were almost identical in length. A measured move for following a trend.
Looking for bullish pattern to develop at the bottom the “golden” zone here I have it in burgundy.
I am not a financial advisor, this chart is a hypothetical idea.
3 touches is strong confirmation for a trade position. Looking at this text book example shows how easy it can be to identify what direction the market is going.
Each reaction to the trend line tells you strength of resistance and support.