Price broke through a major ascending channel, as well as a major structure, which tells us that sellers are in control of the market.
We can expect, at least, a 4H rejection of this structure. If so, scale down to lower timeframes in order to look for potential entries.
On a long term, we're also looking for sells, which is another great confluence to be added.
That being said, expect an impulsive move to the downside and wait for price action to develop.
We can expect, at least, a 4H rejection of this structure. If so, scale down to lower timeframes in order to look for potential entries.
On a long term, we're also looking for sells, which is another great confluence to be added.
That being said, expect an impulsive move to the downside and wait for price action to develop.