mrleedz

mrleedz

short the correction...then continuation of an up trend

mrleedz

I will put this tool in my tool box it just fascinates me

mrleedz

I see the retesting of a trendline so buying low is always good, as for my ABCDE I just hope I got that one right. But it shall all be revealed

mrleedz

sell for a short term the buy low

mrleedz

looks like a selling opportunity to me on a very short term as it will be consolidating after breaking out

mrleedz

At this point I am waiting for a breakout on either sides up or down, but we see on 4h an up trend line broken and on a consolidation state, so the the 1h channel could most probably break downwards, but if it breaks upwards waiting for selling high will be a good idea for me.

mrleedz

Breakout + consolidation

mrleedz

Breaking the resistance of the 4h down trend, Reversing forming higher lows making stronger the upper trend line, RSI divergence, A buy setup has formed.

mrleedz

As we can see on the chart its been playing nicely between the channel on the 4hr chart, Now looking at the stochastic oscillator its on oversold confirming the support of the trend line, at far left is a very busy area so the prices could start to move sideways.