We have shortening of thrust on way down. The last swing before trading range has very high cumulative volume. It indicates possible hidden buying. The current range could be accumulation schematic. 2 possible bullish scenarios:
1. Price false break of trading range (spring) and goes up. While breaking the creek, there is possible backup to the creek. A spring and backup action are good place to initiate a long trade.
2. Price goes up straight and jump across the creek. Backup to the creek is best place to initiate a long trade.
The scenario will not play if price breaks 0.744 and continue move down.
1. Price false break of trading range (spring) and goes up. While breaking the creek, there is possible backup to the creek. A spring and backup action are good place to initiate a long trade.
2. Price goes up straight and jump across the creek. Backup to the creek is best place to initiate a long trade.
The scenario will not play if price breaks 0.744 and continue move down.