We have broken out of the micro uptrend which may flip into the bottom of a new micro uptrend represented by the pink lines if held.
I have highlighted the new channel and its relation to the previous micro upward trend with the light green boxes
I may reduce exposure if we break down out of both micro uptrends.
I have highlighted the new channel and its relation to the previous micro upward trend with the light green boxes
I may reduce exposure if we break down out of both micro uptrends.
Comment:
As we can see, it would have helped if I had extended the purple uptrend all the way to the top of the current macro uptrend rather than stopping at the bottom of the next range.