-divergence
-channel and resistance/support level confluence
-ONLY if breaks below both of the above, countertrend
-
Comment:
no movement, 10 pts in both directions.
moving the S/R rectangle, price is closing at resistance.
bullish scenario:
will be one of those evenings (asia/europe) where I will watch how price reacts to that rectangle... i.e. floats/tests above it could trigger the setup for 5750 5th wave. (resistance has become support)
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moving the S/R rectangle, price is closing at resistance.
bullish scenario:
will be one of those evenings (asia/europe) where I will watch how price reacts to that rectangle... i.e. floats/tests above it could trigger the setup for 5750 5th wave. (resistance has become support)
the key is how price reacts tonight... sideways typically bad for a bear case.
s3.amazonaws.com/tra...shots/4/4kbZwTQi.png