Watch the Possible Breake

Aug 18

Right now, price is sitting right on the border of the weekly and daily channels — a very strong support area.

We can also see that price is still inside a bullish volume zone.

Bearish scenario →

If price gets below the diagonals and holds there, and also establishes itself below 4380, that would invert the bullish volume zone and open the way for a move lower.

First target → 4340

And possibly lower if the move develops.

The diagonals also support the idea that a larger move may be getting close. They have all come together into a tight cluster, which usually tells me that if price manages to break away from them, we may finally get out of this consolidation and see a more directional move for a while.

So for now, 4380 is the key level.

Below it → I’m looking toward 4340 first, and then we’ll see.

Aug 18

Trade active

First target delivered 4340. Partial profit here make sence. Lets see if we can get more