The price is above the upper limit of the downtrend channel which has been consolidating during the last 2 and a half years, and now in the most immediate context the price action fits into an uptrend channel, therefore in order to look for entries one could play the break out, the pull back or the Reversal, all of it taking into account the boundaries of the blue channel
Note
Now the price is getting closer to the Lower Limit of the trend channel, maybe some demand could be found at this area .... lets see if there are some opportunities to enterNote
The price has reached the lower limit of the trend channe and it seems to be breaking it, now its a key moment to define if there is follow through to the donwside or not .... therefore a good place to start thinking in a trade Note
The price is showing signals that maybe there are some followers to the downside, now the price could:1) Retest the break of the Lower Limit and a continuation to the down side
2) Continuation to the downsite without retesting
3) Make a false break out and re enter in the trend channel
Note
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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.