Therefore we are allowed to buy and sell.
To determine the most appropriate action to take of the 3 possible options available (Buy, sell or do nothing), let's look at where price is currently
On the monthly chart price has arrived at a , an area where previously, selling overwhelmed buying. Definitely not a place to be initiating long positions.
This view is further reinforced by the fact that on the weekly chart as shown, price is also currently at a weekly .
So our decision is made - look to exit long positions if long from lower price levels . Secondly, we are now allowed to start looking for selling opportunities on the lower time frames in our chart order (remember, M-W-D is the order for this analysis)
Entries short will be on the if they arise.