Price trading within a downtrend channel. This usually formed when the price moves in a downward direction and is contained within two parallel trend lines.
The trend lines act as resistance and support levels, with the upper trend line acting as a strong resistance level and the lower trend line acting as a weaker support level.
Since the last drop failed to make new low and formed double bottom, We believe this will be a great time for the channel to break upside.
Remember trading is not suitable for everyone, and you should carefully consider your financial situation and risk tolerance before trading. We provide trading signals for informational and educational purposes only.
Trade active
⋅
price breakout of falling wedge formation and we expect price to continue rising after pullback.