HTF is indicating Reversal Signal with confluences as...
HTF Double Tops,
Ascending Channel
Therefore price instead of pushing down impulsively, I'm seeing the price evolving in the LTF into a LTF Double Tops within the HTF Double Tops.
I do understand that the price can fail to respect this LTF Double Tops whilst evolve into new structures.
However I am confident enough to trust on my Top-down analysis. Hence I'm expecting to see formation of an Ascending Channel towards the 1st Top to add confluence on the Reversal signal.
However if that doesn't happen I'll keep watch on the price to see what other scenarioes the price can develop.
HTF Double Tops,
Ascending Channel
Therefore price instead of pushing down impulsively, I'm seeing the price evolving in the LTF into a LTF Double Tops within the HTF Double Tops.
I do understand that the price can fail to respect this LTF Double Tops whilst evolve into new structures.
However I am confident enough to trust on my Top-down analysis. Hence I'm expecting to see formation of an Ascending Channel towards the 1st Top to add confluence on the Reversal signal.
However if that doesn't happen I'll keep watch on the price to see what other scenarioes the price can develop.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.