1 confluence of the S/R (green) flipzone and the bottom of the yellow channel
2 top of blue channel "neckline" of HnS if you want
top blue tl and bottom yellow tl constitute a possible wedge on the right side
if/ when it breaks down,.. first target is middle blue around 1.2650, ... second is lower horizontal greel just above 1.25
if it holds upper target for me is 1.34
it has bounced off the yellow bottom quite forcefully before, so tomorrow should be an indication
short term scalp my bias is up
long term down
2 top of blue channel "neckline" of HnS if you want
top blue tl and bottom yellow tl constitute a possible wedge on the right side
if/ when it breaks down,.. first target is middle blue around 1.2650, ... second is lower horizontal greel just above 1.25
if it holds upper target for me is 1.34
it has bounced off the yellow bottom quite forcefully before, so tomorrow should be an indication
short term scalp my bias is up
long term down
Note
almost 180 pips higher since publishing we are indeed at number 2, looking for futher PA to see what will come out of the channel top touchlong term bias is still down but made some pips on this move up
Note
on the break of the blue channel we have an engulfing H4 candle back into the channel so rather strong rejectionoil got a boost
i'm short from 1.3065, sl at BE
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.