NAK
All right, friends, here's another good paper for the trading today.
What's on the chart:
1. Strong resistance level, formed by the tail of a paranormal bar on May 29.
This is the first day a strong shortsman showed himself.
2. The same short player sold the price in the next three days until 1.16.
3. On June 04, the long player entered the fight again, defending his critical price.
4. The long player leads the price in a box: gaining position - growth, gaining position - growth.
5. On June 22, the long player made a false breakout of the level, however, we did not roll back down, you can see that the position is buying back.
6. June 26 is a false break-down in the opposite direction, however, the price was returned back to the channel even on that day.
7. The price closed far from the level.
It's a safe scenario:
Waiting for the pressure to the level, enter after the breakout and level retest.
Before entering the position the SPY analysis is obligatory.
The direction of trade must coincide with the direction of the market.
SL put it behind the breakout bar.
Aggressive scenario:
Enter the first breakout hoping for a primary impulse.
SL is placed under the level.