Looking to participate in a potential move to the upside ...
Looking for a bigger movement to the downside ...
Looking to participate in the underlying downtrend ...
Description in chart ... see the related idea in the daily perspective
If the price is unable to keep pushing lower and the blue area holds then long entries could be triggered in order to participate in the underlying uptrend ... may be for better timing you can scann for entries in the 1h chart
Expecting further strength in the market, before to establish a possible long scenario ... looking to participate in the underlying uptrend and expecting the price to break out the Last Swing High area
If the price holds the 2600 level and starts to show signals of strength like Higher lows (see the scheme) then long entries could be triggered in order to look for an impulse movement to the upside
If the price is unable to keep pushing higher, then looking for short entries in lower time frames around the blue area, would be a good idea in order to participate in the underlying downtrend
Looking for a sync between trend channels of different magnitudes in order to have a better timming and better risk reward ratios
If there is no follow trought to the upside a possible short entry could be triggered, in order to participate in the underlying downtrend channel
Wait for short entries around the extreme of the Trend Channel
As mention in the previous idea the price effectively retrace towards the downside after testing the resistance area around the 2350 (red lines), however the sellers where not strong enought and when they face the 50% of the previous up movement they fail to keep pushing lower (see the arrows) .. later the price broke to the upside with strength .. so the u trend...
If the price is unable to keep pushing higher, unable to break the 2320 area, then looking for short trades would be a good scenario, based on a low risk in comparison to the possible reward