BIRKENSTOCK - potencial reversal
Hello, my fellow traders 👋 BIRKENSTOCK on monthly chart rejected from supply area at 98$. In case we break down the trend line I am looking for a short with target at 88.25$. Stop loss above supply zone (99$).
On the other side price is still in up trend which can lead to a bounce from trend line and break out of resistance above. If this happens I am looking to wait for a retest of 99$ where I will open a long position.
Until we break out of the supply zone I am expecting price to reverse and continue lower.
Good luck.
On the other side price is still in up trend which can lead to a bounce from trend line and break out of resistance above. If this happens I am looking to wait for a retest of 99$ where I will open a long position.
Until we break out of the supply zone I am expecting price to reverse and continue lower.
Good luck.