ADPT
Hey, traders!
let's take a look at some interesting paper.
What we see on the chart:
1. We have reached the level of 44.99, which was formed back in August last year.
2. The level is mirrored, which enhances its power.
3. You can see that the position leads by a "box".
4. Since May 20, a strong short player entered the game, who tried to squeeze the support line 38.3, but failed.
5. On June 10, we passed the resistance level of 41.90 and consolidated on it.
6. We're getting back in long position.
7. We bumped into 44.99, made a false breakout and went to retest.
First Trading Scenario:
Enter the breakout after a squeeze under the level: The day chart and the hour chart should clearly show a pressure under the level, which indicates the presence of a long player
and his unwillingness to pay worse price for an already gained position.
Second scenario, safer:
Entering the position after the breakout, after the price will test the support level.