Red line plotted describes trend line resistance at higher timeframe. Blue square describes resistance at 4hr timeframe. Expecting false breakout then reversal.
I'll be looking for candlestick pattern or Higher support level break for the entry.
Lets understand what I am trying to to here. There was a horizontal support which helped to move price up. Now if ita takes support cosidering trendline support as well then we can expect a short time upside move
Trend was in downward direction. It tried to break the support of the initial uptrend. Price failed to move down. Now the new trend is started and should reach the high of the trend line.
This is only for educational purpose.
