its hard to ignore this obvious formation of Descending channel. as far my analysis concerned this channel will figure out potential bullish reversal.
Trade active
LongNote
hammer at h4 confirms buy signal for short termNote
This is called crack and snap = false breakout!!!Note
This is called support jump!!!Note
Short here we go again after hitting same resistance line.Note
short area coming soon, middle line of two channel will be potential short.Note
Get ready for the short.Note
Broken resistance now support is soon going to be reached, possible movement scenario is in following chart,Trade active
Strong short triggered.Note
Short journey has started at resistance line.Note
key area to break for bearish move.
Note
nice reversal upon hitting resistance line, target is middle line between two channels. price potentially jump after hitting middle line.Note
pay attention to middle line between two channels for bullish bias. because recent sharp bullish move won't let price to go much down.Note
get ready for long as soon price hit the middle line, this time its not going to break. hitting middle line could result in huge rally up.Note
this is chart which make confluence with middle line of this idea.
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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.