Price is moving in a long term channel & has rejected the top multiple times in the past. Price now is also at a strong reversal point resistance, rejecting for 4 weeks. This new weekly candle has filled to test resistance once again, where now I will be looking for a continuation lower in the upcoming weeks ahead. Potential swing trade opportunity here.
Comment:
(H4) Rejection off the top of the range once again. Consolidation phases below a key level usually signal a potential trend reversal as well. Aggressive entry would be at the top of the range, & conservative entry would be a clear breakout of the consolidation box to create a lower low, wait for pullback to create a lower high retesting broken support as new resistance, where then a position could be looked into being taken.
Comment:
(D1) reversal point in the market if you look left