Chart Breakdown๐
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DR.Swing_Forex
- Daily Timeframe:
We have an uptrend in place.
There's a 3rd touch trendline setup on a downward trendline drawn from this timeframe but price formed a fake out on the third touch, which is essentially a failed breakout to the upside.
I'm anticipating price to now go and break this downward trendline in respect of the uptrend.
- 4Hour Timeframe:
We have an uptrend in place.
We also have a 4th touch buy setup on an uptrend trendline drawn from this timeframe.
- 1Hour Timeframe:
This timeframe contradicts the overall bullish sentiment as we have a downtrend on this timeframe.
I'm anticipating a bullish setup to form after price touches the upward trendline as indicated. The second possibility is that price forms a break a re-test on the downward trendline.
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DR.Swing_Forex