W1 - Price is nearing the downtrend line. if we didn’t get a valid breakout here then there is a good chance that the price might respect the trend line and move lower.
D1 - Potential bearish divergence forming.
H4 - The price is moving inside a bullish channel. Currently the bullish momentum holds and the price is approaching good reversal levels. So basically the 111 zone is where we may start looking for sells after reversal confirmations.
Invalidation: If the price breaks and holds above the weekly downtrend line then this setup is invalidated (false breaks are acceptable).
D1 - Potential bearish divergence forming.
H4 - The price is moving inside a bullish channel. Currently the bullish momentum holds and the price is approaching good reversal levels. So basically the 111 zone is where we may start looking for sells after reversal confirmations.
Invalidation: If the price breaks and holds above the weekly downtrend line then this setup is invalidated (false breaks are acceptable).
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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.