At the moment, We are sitting at the bottom of a long term triangle.
The bright blue is a much shorter term triangle.
We've got what I believe to be a flag, although I'm not sure if flags are allowed to continue on the previous trend or if they have to be counter trend.
Prices could bounce back down from the short term triangle (Light Blue) or they may break through the top and then head towards the top of the long term triangle.
At the moment I am undecided.
Lets see what happens :)
The bright blue is a much shorter term triangle.
We've got what I believe to be a flag, although I'm not sure if flags are allowed to continue on the previous trend or if they have to be counter trend.
Prices could bounce back down from the short term triangle (Light Blue) or they may break through the top and then head towards the top of the long term triangle.
At the moment I am undecided.
Lets see what happens :)
A small channel was broken to the downside.
This could either bounce off of the light blue triangle and continue up or it could keep going down towards the larger timeframe descending triangle (Dark Blue Line).
Lets see what Happens :)