Levels of support/resistance typically produce a pop or bounce on the first touch.
There is an untested level of support in the valley around $6385
SETUP: This is not a prediction price will get to 6385. However, if it does, enter LONG.
I call this conditional trading.
ENTRY: $6385
Long position
TARGET: $6530
This is below a low that could offer resistance
STOP: $6306
This is below the lowest candle of the valley that should start the move
There is an untested level of support in the valley around $6385
SETUP: This is not a prediction price will get to 6385. However, if it does, enter LONG.
I call this conditional trading.
ENTRY: $6385
Long position
TARGET: $6530
This is below a low that could offer resistance
STOP: $6306
This is below the lowest candle of the valley that should start the move
Trade fechado: objetivo atingido:
Price bounced off the 6385 and went past the 6530 target