FLM has been trading in a channel for a couple of months now, zoom out for a better picture.
Recently, the price reversed sharply from the lower support of the channel, potentially signaling a new upward move towards the top resistance of the channel. After consolidating for a couple of days I think we will see more bullish pressure arising soon.
Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.
On the chart Iâve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs. Do your own due diligence.
Happy trading!
Recently, the price reversed sharply from the lower support of the channel, potentially signaling a new upward move towards the top resistance of the channel. After consolidating for a couple of days I think we will see more bullish pressure arising soon.
Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.
On the chart Iâve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs. Do your own due diligence.
Happy trading!
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