Simple set up ,broke previous 1st weekly and daily structure to the upside and keeps holding above it so right now after creating a new high price has retested the top of that broken structure so in roder to go long i will monitor this daily candle and see if we can get a daily clsoe above the Mp fib 26160
Price could make a double top on a key resistance/pivot area.
We can see a well defined downtrend channel.
If price fails to break resistance, it should look to test the most proximate support; should such support break, a continuation to even lower support areas should occur.
The extension of a bearish impulse would lead to the inferior trendline of the...