ZINC continued running down with it's lower-lows(showed in red circle below) & highs patterns intact since may-2015. In my article "TRANSFORMATION OF TREND(ending or reversing)" , i discussed trading the prior lower-high swing resistance in an ongoing downtrend & below chart shows good examples of that. Around 123 level of prior swing resistance, price sold-off heavily & joined back the downtrend & currently we can see price selling-off from another prior lower-high swing resistance level of 111.We already have executed sell entries here based on lower timeframe analysis & in coming days we expect 97/98 layer of support to hit. Around 105 level, we got short term minor supports which need to be watched for trailing our stoploss to entry area.
SUMMARY : READ price momentum context – RECOGNIZE the pattern going on – TRADE the pattern till it ends and to learn it all join me in my ADVANCE TRADING COURSE & trade with me real-time using higher & lower timeframe charts.
PLS NOTE : All chart analysis posted here are the author's own idea of trading for educational purpose only & not any form of advice or recommendations or opinion to anyone.
Last Trading Lessons : "TRANSFORMATION OF TREND(ending or reversing)"