Double Trendline Rebound:
Price has bounced decisively from the confluence of:
This confirms the trend has changed from bearish to bullish
Trading Opportunity: False Breakout Setup
Wait for a false breakout above next blue resistance zone (marked on chart)
Stop Loss: Below the pullback
Take Profit: Next blue resistance zone
Price has bounced decisively from the confluence of:
- Daily trendline support
- Weekly trendline support
This confirms the trend has changed from bearish to bullish
Trading Opportunity: False Breakout Setup
Wait for a false breakout above next blue resistance zone (marked on chart)
Stop Loss: Below the pullback
Take Profit: Next blue resistance zone
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