My long bias comes from briefly viewing the bigger picture i.e daily, weekly etc which displays clear lower highs and higher highs so in turn very bullish sentiment.
I have then zoomed into the 4hr and found a very simple setup.
Price has made continuous HH and LH within the ascending channel and broke the first counter trend line retested made a higher high than came to retest the line again in confluence with the longer term rising trendline and 61.8 fib level which I have highlighted on the chart.
An inverse H&S continuation pattern looks like it is forming (3 highlighted areas) and a break of the neckline and decent price action would warrant my entry to get in on the action of this very bullish trend in which a new higher high is due.
Not the tidiest of setups however looks like it could play out to be a very effective one.
I have then zoomed into the 4hr and found a very simple setup.
Price has made continuous HH and LH within the ascending channel and broke the first counter trend line retested made a higher high than came to retest the line again in confluence with the longer term rising trendline and 61.8 fib level which I have highlighted on the chart.
An inverse H&S continuation pattern looks like it is forming (3 highlighted areas) and a break of the neckline and decent price action would warrant my entry to get in on the action of this very bullish trend in which a new higher high is due.
Not the tidiest of setups however looks like it could play out to be a very effective one.