Coupled with the strong horizontal structure just above the current price, and the consequent likely pullback from it, our target trade is a short.
As I said, the first diagonal support is already broken, thus:
TRADING PLAN:
1-Wait for the second diagonal support to be broken
2-Wait for the breakout to be confirmed
3->>Go Short
IF the breakout happens keeping the diagonal downward resistance intact>> SL above it.
In any other case, this setup is invalid. The next target trade on the higher price levels would also be a short, with SL above the horizontal structure, but the breaking of the diagonal resistance would be a sign of strength, so the new price action analysis will be needed.
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