A) WEEKLY
1. Price reached important point of decision on weekly chart; descending weekly trendline.
2. In the end of May, price respected previous highest resistance that was made on Jan 2018 and failed to break the resistance, thus made a reversal.
B) DAILY
1. Price made a beautiful daily ascending channel as a sign of correction before any impulsive move on the daily chart.
2. Price moved in range for few weeks already inside the correction channel.
3. However, in the end of September, last week price broke the channel as a good sign to place a swing short.
C) PLAN
1. Wait for the price to at least retest on the previous resistance or the weekly descending trendline.
2. If the price continue to drop, wait till it break the previous support and the place short.
3. Plan is invalid if the price break the HNS pattern or break the weekly descending trendline.
1. Price reached important point of decision on weekly chart; descending weekly trendline.
2. In the end of May, price respected previous highest resistance that was made on Jan 2018 and failed to break the resistance, thus made a reversal.
B) DAILY
1. Price made a beautiful daily ascending channel as a sign of correction before any impulsive move on the daily chart.
2. Price moved in range for few weeks already inside the correction channel.
3. However, in the end of September, last week price broke the channel as a good sign to place a swing short.
C) PLAN
1. Wait for the price to at least retest on the previous resistance or the weekly descending trendline.
2. If the price continue to drop, wait till it break the previous support and the place short.
3. Plan is invalid if the price break the HNS pattern or break the weekly descending trendline.