Trend: Ranging
Setup: Support and Resistance & Ascending Wedge
Plan 1: We expect price to continue to fall to a support level (green line) and reverse to previous high, alternatively it could break out and move towards an even lower support.
Plan 2: We expect price to fall to the lower trend line then either break out and continue to move towards support level or respect the trend, reverse, and move back to the upper trend line.
Setup: Support and Resistance & Ascending Wedge
Plan 1: We expect price to continue to fall to a support level (green line) and reverse to previous high, alternatively it could break out and move towards an even lower support.
Plan 2: We expect price to fall to the lower trend line then either break out and continue to move towards support level or respect the trend, reverse, and move back to the upper trend line.