ETNUSD possible playouts
Playout 1 (Green):
For a convincing trend reversal I would expect to see the Daily Candle close above down trend or
0.005 support, then create a Higher High above Lower high from Feb 2020. Followed by a Higher Low.
Playout 2 (Red):
Daily candle doesn't close above down trend. Retraces to (possibly) create a new Higher Low at one of the support levels.
Price would then need to create a Higher High above todays Lower High for a convincing change in market structure.
Playout 3:
Complete retracement to create a new LL :(
For a convincing trend reversal I would expect to see the Daily Candle close above down trend or
0.005 support, then create a Higher High above Lower high from Feb 2020. Followed by a Higher Low.
Playout 2 (Red):
Daily candle doesn't close above down trend. Retraces to (possibly) create a new Higher Low at one of the support levels.
Price would then need to create a Higher High above todays Lower High for a convincing change in market structure.
Playout 3:
Complete retracement to create a new LL :(
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