🔥 RSR Long Term Channel Analysis

٢٦ فبراير ٢٠٢١

RSR has been trading in this channel for almost 5 months now. During that time, a channel touch has always resulted in a change of direction. This trade is based on the idea that RSR will keep on falling in the near future, only to reverse to the bullish side when the channel support has been hit.

Before entering this trade wait for the price to touch the Entry line.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs/lows. Do your own due diligence.

Happy trading!