Hi there. Price is forming a possible pattern to the upside on the bigger time frame.
On lower time frame there are two scenarios, but we have to wait and see how price behaves.
FIRST SCENARIO:
On the 1 hour time frame price reach the SMMA , forms a divergence on a lower time frame and forms a strong price action to the downside.
SECOND SCENARIO:
On the 1 hour time frame price reach the SMMA, forms a divergence on a lower time frame but price is not so strong to the downside and forms a continuation pattern to the upside. Then our bullish pattern, that it's forming on bigger time frame, starts to make sense.
Let's wait and see how price behaves.
On lower time frame there are two scenarios, but we have to wait and see how price behaves.
FIRST SCENARIO:
On the 1 hour time frame price reach the SMMA , forms a divergence on a lower time frame and forms a strong price action to the downside.
SECOND SCENARIO:
On the 1 hour time frame price reach the SMMA, forms a divergence on a lower time frame but price is not so strong to the downside and forms a continuation pattern to the upside. Then our bullish pattern, that it's forming on bigger time frame, starts to make sense.
Let's wait and see how price behaves.
Note
On lower time frame Note
FIRST SCENARIO Note
SECOND SCENARIO 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.