Main items we can see on the chart:
a) The price is on a 4hs compression making a throwback on the broken descending trendline
b) If the compression is broken we expect a bullish movement towards the support resistance zone
c) On the Support Resistance zone, we are using as target, we can see how the price tested both sides of it.
d) If you are interested in taking long setups here, you can do it by waiting for a clear breakout, and looking for corrective structures on a lower timeframe such as 15 minutes
a) The price is on a 4hs compression making a throwback on the broken descending trendline
b) If the compression is broken we expect a bullish movement towards the support resistance zone
c) On the Support Resistance zone, we are using as target, we can see how the price tested both sides of it.
d) If you are interested in taking long setups here, you can do it by waiting for a clear breakout, and looking for corrective structures on a lower timeframe such as 15 minutes
