- Redrawn the support and resistances based on the recent changes on the price action ( 30m is green, 1h is yellow, 4h is orange, 1d is red ). The darker the colour, the more potent the level
- Extended the bear channel ( dotted line ) to see how the next couple of days would look like and would need to break to see a bullish trend.
- Drawn a chart pattern for an inverse double top, signalling a reversal pretty soon.
In this setup, I would be looking for a long entry, but I will need a stronger confirmation to do so.
I've setup an alert for the upper bondof the bear channel, and on the 4h level at 137.82.
If the price action breaks any of this two. If both is broken, even better. When entered, I will aim for 156, just below the 156.75 level.
- Extended the bear channel ( dotted line ) to see how the next couple of days would look like and would need to break to see a bullish trend.
- Drawn a chart pattern for an inverse double top, signalling a reversal pretty soon.
In this setup, I would be looking for a long entry, but I will need a stronger confirmation to do so.
I've setup an alert for the upper bondof the bear channel, and on the 4h level at 137.82.
If the price action breaks any of this two. If both is broken, even better. When entered, I will aim for 156, just below the 156.75 level.
Order cancelled:
Price action didn't break the bear channel, nor the 4h resistance, so no trades taken using this setup.