US100 trendline break
As you notice the US100 touched the higher timeframe trendline together with the lower timeframe trendline and is currently trading below the 50MA on H1. The wick rejection on H1 and H4 serve as a retest on the trendline and we should be looking to correct the price imbalance marked in red or we are heading to the 3rd trendline touch at around 12800.
Worst case scenario is that the trendline break might be a fakeout and is actually heading upwards, in that case I will move my SL to break even when price trades around 13800 and look for buys above the H4 trendline.
Worst case scenario is that the trendline break might be a fakeout and is actually heading upwards, in that case I will move my SL to break even when price trades around 13800 and look for buys above the H4 trendline.
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