We have a large descending channel, which appears to be forming a smaller ascending channel as part of a correction.
Once the correction is confirmed and completed, it could provide a good opportunity for a short position.
However, if the lower boundary isn't broken and the price moves higher, we’ll hold off and wait for a new structure to form.
Once the correction is confirmed and completed, it could provide a good opportunity for a short position.
However, if the lower boundary isn't broken and the price moves higher, we’ll hold off and wait for a new structure to form.
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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.