As you see on the chart there is uptrend channel formed and price is moving within for now.
Currently we see hidden bullish divergence between price and RSI signaling strength despite bad momentum. It could be a signal for wave 2 ending in Elliot Wave theory and preparing for wave 3 which usually is stronger and could potentially break the channel.
You could put a trade with stop lose set on "close of the bar" under the channel.
Currently we see hidden bullish divergence between price and RSI signaling strength despite bad momentum. It could be a signal for wave 2 ending in Elliot Wave theory and preparing for wave 3 which usually is stronger and could potentially break the channel.
You could put a trade with stop lose set on "close of the bar" under the channel.