As you see in the 4H chart, price is in the uptrend and is moving on ascending trend lines.
Currently, price has approached to the red resistance level which has pushed it to the downside once in the past and it got rejected from it again.
But, since price is still on the ascending trend line, we should wait for the downside breakout on the first trend line, and then expect a drop on price towards the second trend line.
Currently, price has approached to the red resistance level which has pushed it to the downside once in the past and it got rejected from it again.
But, since price is still on the ascending trend line, we should wait for the downside breakout on the first trend line, and then expect a drop on price towards the second trend line.
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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.
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.