Price is captured within an ASCENDING channel.
On Weekly TF, we can see a bearish momentum candle, slowed down to a DOJI. Also, on closer look, it's all a correction of the "W"
On Daily and H4 timeframes, we can see regular and hidden divergences respectively, CONFLUENCE with lower edge of channel.
Trendline and resistance already broken on H1.
So, I'm in FOR a BULLISH wave.
Price may still retest the lower border of the channel, but that should be the worst- imo.
On Weekly TF, we can see a bearish momentum candle, slowed down to a DOJI. Also, on closer look, it's all a correction of the "W"
On Daily and H4 timeframes, we can see regular and hidden divergences respectively, CONFLUENCE with lower edge of channel.
Trendline and resistance already broken on H1.
So, I'm in FOR a BULLISH wave.
Price may still retest the lower border of the channel, but that should be the worst- imo.
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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.