Monthly wedge presents an upcoming breakout with potential poi.
December price action presented a formation indicating a daily uptrend towards the monthly hi. ( will it break the monthly resistance )?
With new higher highs presented since then, price now sits around the 50line presenting monthly consolidation towards a breakout. ( will it continue to the downside...
11-14 presented a 1H downtrend indicating loss of buying buying pressure. Reetracemnt confirmed entry based off confluence between break of structure and ema crossover.
The 4h chart presents a potential entry on the downside! The 4h chart also shows price reaching to a key area indicating a potential sell. With the 4h bearish diversion trend line and extra confirmation on the RSI, it shows value losing strength. The daily chart also shows price action below the same key zone area, indicating a potential sell entry.
hope this...
