ALPHA - Important Price Action ✨From a higher timeframe view, we can see that there are 3 significant bearish phases.
Phase 1 and 2 are really impulsive indicating there's heavy momentum to the downside. However, phase 3 is very corrective with short bodied bearish candles. This indicates that there isn't much momentum to the downside and that bulls are coming back into the market. We can see that after the corrective phase 3, we broke up to the upside. Anticipating further bullish momentum to the upside, back to ATH's.
Trade Idea:
- Watch lower timeframe for bullish reversal. Worst case we can come back to double bottom
- Enter with stops below the lows
- Targets: 1.300, 1.500, 2.400, actively manage the rest
Goodluck!
