The larger bullish trend is still in force. Although we have a double top candidate, the price settled down within a range, going sideways since roughly 6 months ago. Now, we are near the lower boundary of the range, the fact that the underlying trend is bullish does in no way indicate that a breakout to the down side will not occur. On the other hand, it is obviously a bullish indication to have the sideways action above a very significant support, and not below it.
One may wish to enjoy the higher rewad/risk ratio by taking the long side, yet it is also possible to lay for a downward action. Thus, we'll seek both bullish and bearish opportunities in lower time frames.
One may wish to enjoy the higher rewad/risk ratio by taking the long side, yet it is also possible to lay for a downward action. Thus, we'll seek both bullish and bearish opportunities in lower time frames.
