This idea is for educational and demonstration purposes only. At market open observe price action. Price is flirting around a key zone. Watch price action around this key zone to ascertain if price will bounce or break the trendline as noted. If price breaks, we can expect a re-test and continuation down. If price bounces off the trendline with bullish price action, we can look for price to head towards one of two zones as noted. From a market structure perspective, price is being contained in an ascending channel on the lower time frame. On the higher time frame we see price being contained within a pennant. Trade at your own risk and always use proper risk management.
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