We’re at a horizontal support and have now created three reactions on this 1H ascending line. There’s not a lot of room between where we’re at and the horizontal support/resistance line. Thus, I might wait for it to break above the horizontal or break below the ascending line to determine a clearer direction.
Comment:
This has broken down. I didn't see a clear break and back test so I didn't get in. I will wait to see if a pattern forms before getting into a sell. Or, maybe we do get a backtest just a little later than I expected.
