Thank you for posting this chart. My concern here is the weekly chart. You have an inverted hammer which is confirmed by the Three white soldiers bullish candlestick pattern which took out that massive red down day. True, you are coming into the resistance line you drew. I guess if that breaks the trend will reverse?
thoughts? Thank you
4thewin
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sorry i said "red down day" - it is a red down week. (weekly chart). thanks
nick101trading
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Yes, if trend line breaks idea is off. Not necessarily a reversal but I'll watch for consolidation and next setup.
4thewin
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what do you mean by not necessarily a reversal? Why not?
thoughts? Thank you