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The Price closed below strong support level. Now both support trendline and support horizontal line turned into resistances. The price will rejected from these resistances so there are two scenarios for taking short position.
1 - If price will retrace after such decline and reject from the resistance trendline
2 - the price will continue to decline from current level
Please to support my work follow the Trading View profile
Guys do not trade this idea before you make your own research!
The Price closed below strong support level. Now both support trendline and support horizontal line turned into resistances. The price will rejected from these resistances so there are two scenarios for taking short position.
1 - If price will retrace after such decline and reject from the resistance trendline
2 - the price will continue to decline from current level
Please to support my work follow the Trading View profile
Guys do not trade this idea before you make your own research!