One Of Our Favorite Setups Is Happening On Roblox (RBLX)⏤Don’t Miss Out

The last time we discussed a trade on Roblox (RBLX), we broke down exactly what support resistance are and how to use them in order to make a higher probability trade. Now, we have the opportunity to take what we have learned and apply it to the very same stock, let’s take a look.

The level of resistance we highlighted was at 43 after rejecting off that level several times in the weeks leading up to now. Earlier this week, price was able to break on through this level of resistance, setting us up for one of our favorite set ups to look for in the market, break and retest.

This kind of setup happens when a price has been trying to break through a support or resistance level and finally does, the price very often comes back to that level to retest it before continuing in the direction of the initial move through that level.

Seeing as how this is one of our favorite setups and how bullish the market currently looks, we highly recommend you look for this trade and monitor it very closely for this retest in order to get your entry. If you miss the retest, you may just want to exercise patience until you get a chance to enter or just move on to the next trade entirely.

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