On today's post we will see 2 timeframes Daily and Weekly, use them to complement it with your own analysis
Main Items on the Daily Chart:
a)Price is inside a Major descending channel
b)Inside that Major descending channel we can see a secondary channel thas has been broken
c)We think that there are clear signals of a possible breakout of the Major one
d)If that happens. Expect a fake-out on the resistance zone
e)After that wait for a consolidation structure as explained on the chart
f)You will know if the consolidation is ready to trade if it's an ABC or an ABCDE pattern, look for a clear structure on the 4hs/1h chart
Weekly Vision:
Main Items on the Daily Chart:
a)Price is inside a Major descending channel
b)Inside that Major descending channel we can see a secondary channel thas has been broken
c)We think that there are clear signals of a possible breakout of the Major one
d)If that happens. Expect a fake-out on the resistance zone
e)After that wait for a consolidation structure as explained on the chart
f)You will know if the consolidation is ready to trade if it's an ABC or an ABCDE pattern, look for a clear structure on the 4hs/1h chart
Weekly Vision: