As you can see, we have a very strong resistance level that price has touched five times, and each time it has been rejected.
Our job now is to look at the higher-timeframe trend and make decisions based on the market’s past behavior.
📌 Plan A:
We expect another rejection from this resistance area.
If price reacts from this level and our trigger confirmation appears, we will consider taking a short position from the zone we marked.
📌 Plan B:
We place a Buy Stop above the resistance, because when price hits a level five times, that level gradually loses its strength.
I mentioned the Buy Stop because there is a chance price may break the level with a strong impulsive candle and not give us a pullback, leaving no opportunity to enter the market.
Our job now is to look at the higher-timeframe trend and make decisions based on the market’s past behavior.
📌 Plan A:
We expect another rejection from this resistance area.
If price reacts from this level and our trigger confirmation appears, we will consider taking a short position from the zone we marked.
📌 Plan B:
We place a Buy Stop above the resistance, because when price hits a level five times, that level gradually loses its strength.
I mentioned the Buy Stop because there is a chance price may break the level with a strong impulsive candle and not give us a pullback, leaving no opportunity to enter the market.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.