Main items we can see on the chart:
a) The price is inside a major descending channel; that's our major structure
b) Also, we have a massive support zone (that's our second major structure)
c) Based on the direction provided by those two, we can see that the main direction is Bullish towards the higher trendline of the descending channel
d) Currently, we can see a corrective structure on the 4hs chart after the break out of the previous correction (yellow lines)
4HS VIEW: We consider that a breakout of the structure will provide a solid confirmation for the coming bullish movement towards the mentioned target
a) The price is inside a major descending channel; that's our major structure
b) Also, we have a massive support zone (that's our second major structure)
c) Based on the direction provided by those two, we can see that the main direction is Bullish towards the higher trendline of the descending channel
d) Currently, we can see a corrective structure on the 4hs chart after the break out of the previous correction (yellow lines)
4HS VIEW: We consider that a breakout of the structure will provide a solid confirmation for the coming bullish movement towards the mentioned target
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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.