It's really important that we don't get bogged down in lower time frames when analyzing our charts.
As traders, we want to catch big impulse moves, not smaller corrections.
You can see that we are approaching a key level in the next 1-2 weeks. Price will either reject from here or move on up to (recent) historic highs.
Once you see rejection from one of these key levels, look for breakout BELOW the ascending channel marked on the chart.
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I will post on a smaller timeframe once we get closer to entry.
Trade safe!
DrBear
As traders, we want to catch big impulse moves, not smaller corrections.
You can see that we are approaching a key level in the next 1-2 weeks. Price will either reject from here or move on up to (recent) historic highs.
Once you see rejection from one of these key levels, look for breakout BELOW the ascending channel marked on the chart.
Like my analysis? Please like and follow for new charts every weekday!
I will post on a smaller timeframe once we get closer to entry.
Trade safe!
DrBear
Trade active:
We rejected as expected - if you are not yet in either look for small corrections on low time frame or it for break of main corrective channel.