Use this as a guide to develop your own setup, or to detect major technical zones on the chart.
Main Items we see on the 4hs chart:
a)Price is on a Weekly wedge pattern
b)The current zone is a possible consolidation area
c)We can wait for reversal signals to see the first confirmations for a possible long setup
d)If the price breaks the descending yellow trendline, we will wait for a confirmation
e)Expect a Flag pattern or a Triangle pattern as a confirmation before entering the market
We will update this idea in case of the price moves as expected, at this moment this is just a scenario we are studying
Daily Chart:
Weekly Chart:
Main Items we see on the 4hs chart:
a)Price is on a Weekly wedge pattern
b)The current zone is a possible consolidation area
c)We can wait for reversal signals to see the first confirmations for a possible long setup
d)If the price breaks the descending yellow trendline, we will wait for a confirmation
e)Expect a Flag pattern or a Triangle pattern as a confirmation before entering the market
We will update this idea in case of the price moves as expected, at this moment this is just a scenario we are studying
Daily Chart:
Weekly Chart: