D1 - Price is moving lower towards the bottom of the channel.
H4 - Bullish divergence, double cycle down, the 100 fibo extension level of the first leg coincides with the bottom of the daily channel thus forming a magnet zone.
Once the price reaches this magnet zone look for evidences of bullish reversal and then we may start looking for buys.
Invalidation: If the price breaks and holds below the bottom of the daily channel then this setup is invalidated (False breaks can be neglected).
H4 - Bullish divergence, double cycle down, the 100 fibo extension level of the first leg coincides with the bottom of the daily channel thus forming a magnet zone.
Once the price reaches this magnet zone look for evidences of bullish reversal and then we may start looking for buys.
Invalidation: If the price breaks and holds below the bottom of the daily channel then this setup is invalidated (False breaks can be neglected).