Main items we can see on the chart
a) The price has broken a descending trendline
b) After that, we can see a corrective structure (purple lines)
c) Corrective Structures tend to solve in the same direction of the previous impulse
d) However, we have 2 scenarios here in case the analysis does not go as expected
e) Short Scenario: The price should reach the lower trendline of the Weekly Channel
f) Long Scenario: The price should reach the higher trendline of the weekly channel
a) The price has broken a descending trendline
b) After that, we can see a corrective structure (purple lines)
c) Corrective Structures tend to solve in the same direction of the previous impulse
d) However, we have 2 scenarios here in case the analysis does not go as expected
e) Short Scenario: The price should reach the lower trendline of the Weekly Channel
f) Long Scenario: The price should reach the higher trendline of the weekly channel