On the daily time frame you see the market constantly testing a dynamic Trent line
We are currently at a weekly resistance level
Trading channel shows we are at the top of the band
There is also a wedge forming
That can be clearly see on the 1h to 4h time frame
Candles are resting very close to support level
Indicating possible breakout to the low
From point where the top of the channel was touched market has made lower lows
Possible bullish check mate at play.
I think there is a drop on the cards
Check first major support level for tp
And second for 200pip drop
We are currently at a weekly resistance level
Trading channel shows we are at the top of the band
There is also a wedge forming
That can be clearly see on the 1h to 4h time frame
Candles are resting very close to support level
Indicating possible breakout to the low
From point where the top of the channel was touched market has made lower lows
Possible bullish check mate at play.
I think there is a drop on the cards
Check first major support level for tp
And second for 200pip drop
