The price hit the weekly resistance and pushed back. Currently it is heading towards daily resistance turned support zone. After the price hit that zone a long position will be favored.
Note
So the price hit the daily resistance turned support and bouncing from there as explained and expected in the idea post. The bounce looks good and hope we reach our target of this long as well.Here is a 15m time frame version of the idea chart:
Note
And the chart missing in the previous comment: Note
I have updated the support zone. The daily resistance zone which now acting as a support is basically 4h support zone and had to be redrawn. The original chart was posted with a phone and it was difficult to mark this zone on phone. This looks better and would have allowed better short close and long entry. Anyways as long as we hold this support, we shall expect out target to be achieved.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.