The green support and the red resistance lines are respectively the weekly UMLH and the weekly SL. Together with the daily upsloping pitchfork
, they do well describe the latest market action
. It is still not certain if or not the final rise in the ATR belongs to the final bullish
days or to the bearish
consolidation. I think the downchannel
described by the weekly UMLH and the SL will hold for a while. Maybe until we reach the upsloping ML. If SL breakout occur before that, it may induce a long entry.