Price Action & Psychology - Trend following, pullback
Hello !
Key points :
After a period of consolidation, the double bottom ignites the new trend. We notice how the wide range candles support the trend.
On the hourly chart, there's a break of the trendline, a retest and a failed attempt to push prices down.
Thanks for reading and if you have suggestions or want to discuss the idea, just leave a comment, I'll be happy to answer.
***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it only takes ONE trader to deny your trade.***
Key points :
- Wide range candles in the direction of the trend
- Pulling back after over-extension
- Significant support area
After a period of consolidation, the double bottom ignites the new trend. We notice how the wide range candles support the trend.
On the hourly chart, there's a break of the trendline, a retest and a failed attempt to push prices down.
Thanks for reading and if you have suggestions or want to discuss the idea, just leave a comment, I'll be happy to answer.
***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it only takes ONE trader to deny your trade.***
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