Price is currently forming an Ascending channel on the Daily chart.
Current trend - Downtrend with price approaching a major support after recently forming a lower high. A break and close of the candle below the support level on the daily chart and retest on lower Tfs would be confirmation of a downtrend, formation of a lower low, and entry for a sell.
Meanwhile, if the support is respected, I'll be on the lookout for a double bottom and formation of a higher low for entries to the next resistance.
Current trend - Downtrend with price approaching a major support after recently forming a lower high. A break and close of the candle below the support level on the daily chart and retest on lower Tfs would be confirmation of a downtrend, formation of a lower low, and entry for a sell.
Meanwhile, if the support is respected, I'll be on the lookout for a double bottom and formation of a higher low for entries to the next resistance.
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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.