BREAKOUT FROM DESCENDING CHANNEL , BROKE OUT FROM MINOR ZONE , CLOSED ABOVE SO DIRECTION IS ASCENDING WHICH IS OVERALL CHART MOVEMENT , IS FAIRLY CLOSE TO MINOR ZONE , DOES LOOK LIKE IT IS GOING UP BUT NEED TO WAIT FOR FURTHER DAILY CLOSE TO ENSURE
overall momentum was ascending but breakout and it has been descending. in a state of consolidation where price is undetermined , would have to wait for it to break out of the zone and wait for daily close so clear change is visible. currently in sell , should drop further if following the overall momentum would have to retest.
overall ascending , smaller zone showing descending, possible breakout occurred but can be false as it is still in the minor zone , state of consolidation would have to wait to enable movement to be seen more clearly.
overall is ascending , smaller time frame shows descending, breakout has occured moves out from the overall momentum . this could be a fasle breakout where momentum has shifted , but does look like it can possibly retrace back into the overall momentum. ascending , would have to wait for more confirmation , drop below previous close to enable us to predict future...
overall decreasing momentum hence sell, smaller timeframe showing sell too, smaller zone support is broken to become resistance , could be a false breakout would have to test further to see if it is continuing in a sell direction