In down trending markets, sell around
the red resistance line.
Not exact matches
The
resistance level is denoted by the
red line and the support level is denoted by the green
line.
The next price target would be the
resistance level (
red line) around $ 175.
If this market breaks through that trend
line, then we would first target Tuesday's $ 965.00 regular session low, marked in
red, where we would anticipate some
resistance.
The inclusion of support and
resistance levels (
red horizontal
line on our chart), along with some basic indicators, ramps up our chances of winning, thus yielding a «High Probability Fibonacci Forex Strategy.»
For example, in the chart below the pin bar is showing rejection of an obvious horizontal
resistance level in the market as well as the dynamic
resistance between the 8 and 21 day EMAs (
red and blue
lines).
The
red upper
line represents the
resistance area.
Natural gas broke below the
Red and Yellow indicator
lines and should be shorted because it is in a downtrend currently My custom support
resistance indicator
lines show decent places to enter or exit.