its hard to ignore this obvious formation of Descending channel. as far my analysis concerned this channel will figure out potential bullish reversal.
Trade active:
Long
Comment:
hammer at h4 confirms buy signal for short term
Comment:
This is called crack and snap = false breakout!!!
Comment:
This is called support jump!!!
Comment:
Short here we go again after hitting same resistance line.
Comment:
short area coming soon, middle line of two channel will be potential short.
Comment:
Get ready for the short.
Comment:
Broken resistance now support is soon going to be reached, possible movement scenario is in following chart,
Trade active:
Strong short triggered.
Comment:
Short journey has started at resistance line.
Comment:
key area to break for bearish move.
Comment:
nice reversal upon hitting resistance line, target is middle line between two channels. price potentially jump after hitting middle line.
Comment:
pay attention to middle line between two channels for bullish bias. because recent sharp bullish move won't let price to go much down.
Comment:
get ready for long as soon price hit the middle line, this time its not going to break. hitting middle line could result in huge rally up.
Comment:
this is chart which make confluence with middle line of this idea.
