Donwtrend channel ... Looking to play the exrtemes
If the price is unable to break the resistance and the behavior of the upward movement change, then a short scenario could be triggered expecting the consolidation of a downtrend channel
Observation: Once again the price went to test the upper limit of the Down Trend Channel, and there where no more buying interest in this area so the price falls again and made a new Lower Low .... Look the importance to look for trades around the extremes
Price around the extreme of the downtrend channel ... description in chart
The price is in an uptrend channel and for the moment is around the extreme of the consolidated trend line, so that means an opportunity to entrer the market at a cheap risk in comparisson to the possible reward, but the everithing depends on the price action. So for the next week I will be looking the behavior around the 52.70 area in order to determinate what...
Expecting the continuation of the downtrend channel
Expecting the consolidation of a downtrend channel, if so the eventual short entry would be frame around the extreme giving a good trade location based on the risk and the potential profit
Description in chart ... see the attached idea