Price broke out of the Descending Channel impulsively earlier, hence I was expecting a to see a continuation correction structure then push to the upside. (Recent structure in dashed lines)
But Price ended up reversing back in the Descending Channel again, this indicate that price has not yet finished structure development butformed another LTF Descending Channel within the big Descending Channel, hence I then adjust my trendlines to fit the present price action structure.
Hence I'm still anticipating an Impulse break followed by the continuation correction to look to an entry.
But Price ended up reversing back in the Descending Channel again, this indicate that price has not yet finished structure development butformed another LTF Descending Channel within the big Descending Channel, hence I then adjust my trendlines to fit the present price action structure.
Hence I'm still anticipating an Impulse break followed by the continuation correction to look to an entry.
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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.