Support becoming resistance in the context of an uptrend
Sorry, I have confused things a bit, I have rephrased the question slightly, but I cannot change the name of the topic which does not represent the nature of the question clearly. My question is on support becoming resistance in the context of an uptrend.
Let's consider there is a W1 single swing low, and this swing low cannot be related to any other swing high with a line/zone i.e. it is a single swing low support.
Now, let's consider the following two scenarios:
1) There is a bearish trend on D1 timeframe, there is a pullback and the price bounces of a W1 swing low (which has become resistance) from below. I go short, because I believe that in downtrend support becomes resistance and this is a good entry point. So no question here.
2) There is a bullish trend on D1 timeframe, I find a good entry point (whatever it is), then I am planning to take profit at the next W1 or M1 resistance level (which ever one comes first). So the question is, in an uptrend do I still consider a single swing LOW to be resistance for this purpose? In the first scenario I did, because we were in a downtrend. But now we are in an uptrend, so what do I do?
Can the moderator please change the name of the topic to "Support becoming resistance in the context of an uptrend". Thanks.
Sorry, I have confused things a bit, I have rephrased the question slightly, but I cannot change the name of the topic which does not represent the nature of the question clearly. My question is on support becoming resistance in the context of an uptrend.
Let's consider there is a W1 single swing low, and this swing low cannot be related to any other swing high with a line/zone i.e. it is a single swing low support.
Now, let's consider the following two scenarios:
1) There is a bearish trend on D1 timeframe, there is a pullback and the price bounces of a W1 swing low (which has become resistance) from below. I go short, because I believe that in downtrend support becomes resistance and this is a good entry point. So no question here.
2) There is a bullish trend on D1 timeframe, I find a good entry point (whatever it is), then I am planning to take profit at the next W1 or M1 resistance level (which ever one comes first). So the question is, in an uptrend do I still consider a single swing LOW to be resistance for this purpose? In the first scenario I did, because we were in a downtrend. But now we are in an uptrend, so what do I do?
Can the moderator please change the name of the topic to "Support becoming resistance in the context of an uptrend". Thanks.
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