So Monthly/Weekly/Daily/4h, they ALL have downtrend congruence in their structure. It's beautiful, but...Price has impulsed up very strongly from that blue potential supply zone on 2 occasions and even now it could be pushing up. We also see that it is slowing up at this equidistant channel resistance and there is rejection expressed from the previous 4h candle. Furthermore, On the Dailly chart, this can be a retest on a significant support as a newfound resistance. Maybe we just have to wait more to see. I'm truly neutral on this, I may take it down to right before the blue area with proper candlestick confirmation, however I am uneasy and want to look for a better setup elsewhere. Let me know in the comments, Trade the supply zone for the strong impulse the long way, or ride with the multi-timeframe congruent people's trend the short way? You guys help me out with your ideas this time.
Trade at your own risk, this is not professional advice, these are just a few ideas I learned in books and videos. Trade what you know.
PatiencePays
Trade at your own risk, this is not professional advice, these are just a few ideas I learned in books and videos. Trade what you know.
PatiencePays