Two setups here;
The first, a broken upward channel, broken to the downside. A short with a target of previous lows.
The second; a potential reverse head and shoulders (blue rectangles) which would suggest an upside movement. I would be waiting for a break of the descending trend line (dotted blue) before initiating a long position with a target of the longer term descending trend line.
The first, a broken upward channel, broken to the downside. A short with a target of previous lows.
The second; a potential reverse head and shoulders (blue rectangles) which would suggest an upside movement. I would be waiting for a break of the descending trend line (dotted blue) before initiating a long position with a target of the longer term descending trend line.
