OVERALL TREND- Up trend on the Weekly TF and a retracement back to te 55 EMA on the daily which looks like a pullback from a bigger picture.
Still looking for long positions off of this ascending channel which seems to be losing momentum to the downside.
It has also crossed above a previous support structure level that's been tested multiple times so a retest of that support level presents a good buy setup.
We'll see how the 4H and 1H TF candles present. A continuation to the upside is a likely scenario.
Still looking for long positions off of this ascending channel which seems to be losing momentum to the downside.
It has also crossed above a previous support structure level that's been tested multiple times so a retest of that support level presents a good buy setup.
We'll see how the 4H and 1H TF candles present. A continuation to the upside is a likely scenario.