Daily - Lower trendline being hit.
4Hr - Impulsive move out of the HTF trendline.
1Hr - Descending channel formed hitting the HTF trendline, giving a False BO to the downside and impulsively moving the price to the other outside part of the 1hr descending channel, possibility of head and shoulders formation too, + double bottom from a June 2015 swing.
The only need now is to wait for a correction to enter after it, with an SL below and the TP at the beginning of the descending channel.
Trades always need to be managed. Markets can flip their motion like English weather, better to preserve than to lose all of it.
4Hr - Impulsive move out of the HTF trendline.
1Hr - Descending channel formed hitting the HTF trendline, giving a False BO to the downside and impulsively moving the price to the other outside part of the 1hr descending channel, possibility of head and shoulders formation too, + double bottom from a June 2015 swing.
The only need now is to wait for a correction to enter after it, with an SL below and the TP at the beginning of the descending channel.
Trades always need to be managed. Markets can flip their motion like English weather, better to preserve than to lose all of it.