Footlocker (FL) - Multiple tops - Short

On this chart (1d timeframe), we can see multiple tops have appeared. Multiple tops is a bearish pattern so it's likely the price will drop. Also, there is a gap to be filled. Once the price has gone beneath the support line the trade can be entered. The price will find support in the support area, this would be the area where the profits can be taken. When it reaches the support area we expect a small bounce before it continues going down.

See further details on the chart.

Goodluck

Zlecenie aktywne:

Support failed as expected. Expecting continuation to the downside now

Komentarz:

The price bounced from the support!