After a long period of corrective price action in the form of an ascending channel, we can see price is approaching a high value area on the larger timeframe structure. With a little more development, we may see price momentum slow down further for a move to the downside. Personally I’ll be looking for shorting opportunities in the form of a sell stop below previous structure. Happy trading folks!
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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.