As you guys can see the channel median of the descending channel is blocking the price, see the chart below. There is a support here, but I don't expect a major movement.
The trend is still down and I am waiting for a nother short entry. Time to double up soon. At this moment I'm more bearish than bullish, untill price proves me wrong. So many daily candles we had to take out the high of the 2 bearish ones on the left. Still the high is untaken.
Advanced traders zoom in for a nice setup, but this is the forecat. Three digits is what I aim for.
Comments
motleifaul
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I suggest a further rise from here to test the top of your channel. When you look to the daily chart you can see that the downward channel there has been left to the upside which is indicating more corrective potential now.