CONFLUENCE
REASONS:
1. DAILY TIME-FRAME INDICATES A DOWNTREND (LOWER HIGHS AND LOWER LOWS). PRICE BROKE THE RECENT SUPPORT AND RETESTED, TURNING SUPPORT TO RESISTANCE ON THE DAILY
2. H4 TIME-FRAME INDICATES A FALLING WEDGE WITH REJECTIONS OF THE PREVIOUS RESISTANCE BEEN SHOWN.
3. PRICE IS CURRENTLY CONSOLIDATING SO A BREAKOUT WILL INDICATE THE DIRECTION. WE WAIT ON IT.
1. DAILY TIME-FRAME INDICATES A DOWNTREND (LOWER HIGHS AND LOWER LOWS). PRICE BROKE THE RECENT SUPPORT AND RETESTED, TURNING SUPPORT TO RESISTANCE ON THE DAILY
2. H4 TIME-FRAME INDICATES A FALLING WEDGE WITH REJECTIONS OF THE PREVIOUS RESISTANCE BEEN SHOWN.
3. PRICE IS CURRENTLY CONSOLIDATING SO A BREAKOUT WILL INDICATE THE DIRECTION. WE WAIT ON IT.
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