The price is in a channel formation that is making lower lows and lower highs, so looking at the shorter timeframe the overall trend is bearish. Two opportunities for trading open with a setup like that. One is trading inside the channel formation, placing a short when the price confirms that the resistance of the channel holds and placing a long when seeing the confirmation of the channel support. The other setup is trading the breakout in either direction. Always looking for a retest, weather the breakout is in the bullish side or bearish.
Good luck!
Good luck!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.