This does not mean I'm going long on this weekly. However, I'd be looking to go long on daily or 4H charts.
Descending patterns on occasion herald a rebound.
There is a key level of support which could break down further. I do not predict. The difficult decision here is whether to go long now with a very wide stop-loss or wait for a rebound off the level of support. Traders with smaller accounts may not be able to withstand a 400-700 pip loss. Those traders should avoid this setup.
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