Sell Scenario
D1 - Price reaching the bottom of the range. and I believe we are going to continue lower as there is big bearish pressure. Bullish divergence forming, so we may expect the price to break below the bottom of the range and the previous lower, then a correction to happen. Once this correction completes itself, we can look for sells.
Buy Scenario:
H4 - Double wave down, second leg is nearing the 100 fibo expansion level which coincides with the bottom of the daily range. We may expect the price to move lower now, which might form a special cycle which is then going to create another false break, then the up move is very much possible.
Once the price reaches the 50% of the range look for bearish evidences and only after we get confirmations for bearish momentum look for sells. In case if the price breaks above the 50% of the range then there is a good possibility that the price might reach the top of the range again.
H1 - Alternative trendline, we may expect the price to respect it.
D1 - Price reaching the bottom of the range. and I believe we are going to continue lower as there is big bearish pressure. Bullish divergence forming, so we may expect the price to break below the bottom of the range and the previous lower, then a correction to happen. Once this correction completes itself, we can look for sells.
Buy Scenario:
H4 - Double wave down, second leg is nearing the 100 fibo expansion level which coincides with the bottom of the daily range. We may expect the price to move lower now, which might form a special cycle which is then going to create another false break, then the up move is very much possible.
Once the price reaches the 50% of the range look for bearish evidences and only after we get confirmations for bearish momentum look for sells. In case if the price breaks above the 50% of the range then there is a good possibility that the price might reach the top of the range again.
H1 - Alternative trendline, we may expect the price to respect it.