Price Breakout our resistance First resistance Area wish become a support area,
Price beakout above a descending channel,
The breakout was followed with huge volume
Scenarios:
Buy :
Wait For breakout confirmation,
Wait for the price to bounce on the upper bound of descending channel,
Wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar , Inside bar etc,
Initiate BUY order,
Targets are TP1 to TP3,
SL Under the support Area.
/!\** Disclaimer**/!\ The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.
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