its hard to ignore this obvious formation of Descending channel. as far my analysis concerned this channel will figure out potential bullish reversal.
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Long
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hammer at h4 confirms buy signal for short term
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This is called crack and snap = false breakout!!!
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This is called support jump!!!
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Short here we go again after hitting same resistance line.
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short area coming soon, middle line of two channel will be potential short.
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Get ready for the short.
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Broken resistance now support is soon going to be reached, possible movement scenario is in following chart,
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Strong short triggered.
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Short journey has started at resistance line.
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key area to break for bearish move.
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nice reversal upon hitting resistance line, target is middle line between two channels. price potentially jump after hitting middle line.
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pay attention to middle line between two channels for bullish bias. because recent sharp bullish move won't let price to go much down.
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get ready for long as soon price hit the middle line, this time its not going to break. hitting middle line could result in huge rally up.
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this is chart which make confluence with middle line of this idea.
