market playing on the daily down trendline and showed a small rejection from the upper 4H trend line ( Third touch)
I will be on the lookout for sell conformation on smaller timeframes.
third touch from the beginning of the trend.
the leg will be confirmed upon the break of the countertrend trendline to the upside.
a break and close of the candle below the trendline (up trendline) will call for sitting on our hand and seeing what it wants to do next, but for now i am expecting an upward move to give us one more leg before a possible huge sell off.
Thank
waiting for confirmation for possible trend reversal.
the uptrend is on the upper trendline third touch which may signify a possible trend reversal and the end of the perceived countertrend.
if i am right the daily trendline might or is there to get it more buyers before a sell off.
