In our case, the price has still rather poorly managed to demonstrate its character in the area of support zones, therefore such a scenario may seem like preparation for the creation of a strong reversal pattern, or reversal scenario in favor of the LONG position. On the other hand, we remember how the price behaves in such double channels and how to analyze the breakthrough the accumulation/distribution channel.
Let me remind you that when the price is pressed against the extreme levels of , followed by breaking through and fixing - a strong signal to continue the trend in the same direction. A strong reversal pattern for a hike upwards can be either a triangle with a flat base on top, or a double bottom in the double , or an inverted with a head top in the area of $9235, and margin in the area of $9380. In the case of the , we will see a further flat. longer than in other situations. This hour, the price priority is downward, as the price is below both resistance levels with the direction vector downwards.
If you found this idea interesting, do not forget to Like it and subscribe to the profile, so as not to miss our updates!