Coming into the new week, discovered a new setup for the early morning, from the triangle boundary lines, we see a downward trend on the horizon, placed my support and resistance lines which will used for breakthroughs and rejections. Expecting the price to be rejected, placed SELL STOP right below one the resistance lines, this will be used to trigger the price in a safe spot to avoid false touches which will provide a short opportunity for a SHORT trade.
Placed my Lightning Bolt lines as confirmation on where I think the movement will go and have my MA60 for assistance to show me which direction I should expect the price to move in.
Let me know what you guys think
Placed my Lightning Bolt lines as confirmation on where I think the movement will go and have my MA60 for assistance to show me which direction I should expect the price to move in.
Let me know what you guys think