Use this as a guide to develop your view of the chart.
Main items we can see on the Daily Timeframe.
a)The main structure the price is in is an ascending channel.
b)Currently, the price is on the higher trendline of the ascending channel.
c)Remember that Technical Analysis doesn't tell us what is going to happen. Technical Analysis shows us zones in which there is a certain probability that something happens.
d)With the previous item clear, we expect a corrective structure on the current level or a reversal movement. What we want to see is the effectiveness of the cloned channel.
Enjoy your weekend!
Main items we can see on the Daily Timeframe.
a)The main structure the price is in is an ascending channel.
b)Currently, the price is on the higher trendline of the ascending channel.
c)Remember that Technical Analysis doesn't tell us what is going to happen. Technical Analysis shows us zones in which there is a certain probability that something happens.
d)With the previous item clear, we expect a corrective structure on the current level or a reversal movement. What we want to see is the effectiveness of the cloned channel.
Enjoy your weekend!