Price broke through our TL to the upside but then hit strong resistance, bounced off resistance and now is currently breaking back through our TL to the downside.
We will be keeping an eye on this trade next week to see if price bounces off our strong TL and makes further moves down ( bearish )
This is like the age old question... should pineapple be on pizza? because some people will see the break of the TL and enter straight away and some people will wait for the retest and bounce... which is the correct way to trade? everybody will have there own opinion on the matter..... so comment your thoughts PINEAPPLE on PIZZA, YES or NO?
I appeared to be part of a possible big mama of head and shoulders. The area of resistance was worth the shot on a lower time frame. The difficulty with these things for many, is working out how far to go when milking it (not that I require advice).