Recent breakdown from a Double-Top pattern has already hit its measured TP at 1210.
Another breakdown from Ascending Broadening Wedge pattern presents more downside risk towards the major support at 1084~1123 area.
*Stochastic indicator at oversold territory, a signal crossover from this level will likely confirm the reversal.
*RSI is also near oversold territory (using immediate trend bias, its already considered oversold and now showing sign of recovery)
*Immediate resistance at 1298.
Trading Plan
- Trading buy near the recent Double-Top breakdown target at 1210.
- Set stop-loss around 1084~1175 area depending on risk appetite. For position trade, set stop-loss on breakdown from this support range.
- Immediate TP near 1298/1300. Can take initial profit at this level and profit run the rest on breakout from 1300 resistance.
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