1- Trendline alpha2 has broken, High #2 has been made last week and prices should correct 158 area from here.
2- Trendline has not broken yet, alpha1 needs to break, prices eventually fill the gap and correct to 160 area. This should bounce from BB+ on daily time frame
Ability to break small red trendline will confirm reversal.
Two things to keep in mind :
1- This configuration is a median failed breakout on BB strategy, failing and thus making prices come back down instead of continuing ascension.
2- The third red trendline is alpha3 and is next significant support (daily and weekly) if L1 lows no longer acts like support.
1- Trendline alpha2 has broken, High #2 has been made last week and prices should correct 158 area from here.
2- Trendline has not broken yet, alpha1 needs to break, prices eventually fill the gap and correct to 160 area. This should bounce from BB+ on daily time frame
Ability to break small red trendline will confirm reversal.
Two things to keep in mind :
1- This configuration is a median failed breakout on BB strategy, failing and thus making prices come back down instead of continuing ascension.
2- The third red trendline is alpha3 and is next significant support (daily and weekly) if L1 lows no longer acts like support.