Main items we can see on the chart
a) The price has broken a descending trendline
b) After that, we can see a corrective structure (purple lines)
c) Corrective Structures tend to solve in the same direction of the previous impulse
d) However, we have 2 scenarios here in case the analysis does not go as expected
e) Short Scenario: The price should reach the lower trendline of the Weekly Channel
f) Long Scenario: The price should reach the higher trendline of the weekly channel
a) The price has broken a descending trendline
b) After that, we can see a corrective structure (purple lines)
c) Corrective Structures tend to solve in the same direction of the previous impulse
d) However, we have 2 scenarios here in case the analysis does not go as expected
e) Short Scenario: The price should reach the lower trendline of the Weekly Channel
f) Long Scenario: The price should reach the higher trendline of the weekly channel
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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.
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.