D1 - Price has reached the confluence zone formed by the smaller channel's lower trend line and bigger channels lower trend line. We have horizontal support in the same zone and also a potential bullish divergence is forming
Once a bullish reversal happens we can look for buys as long as the uptrend line of the big bullish channel is holding.
Invalidation: If the price breaks below the bottom of these channels then this setup is invalidated (false breaks are acceptable).
Once a bullish reversal happens we can look for buys as long as the uptrend line of the big bullish channel is holding.
Invalidation: If the price breaks below the bottom of these channels then this setup is invalidated (false breaks are acceptable).
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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.