D1 - Price moving inside a channel and currently at the bottom of this channel. We have double wave inside the cycle which has now reached the bottom of the channel. Now we want to look for confirmations of bullish reversal.
H4 - Price bounced from the magnet zone and also we have bullish divergence.
H1 - We have two waves down, we can go long with the breakout of the most recent trend line. Our final target will be the top of the channel.
Conservative approach - Wait for the breakout of the last high.
Aggressive approach:
M15 -- We have bullish convergence, wait for two waves down and then go long with the breakout of the most recent trendline. This is valid until the price respects the last low.
H4 - Price bounced from the magnet zone and also we have bullish divergence.
H1 - We have two waves down, we can go long with the breakout of the most recent trend line. Our final target will be the top of the channel.
Conservative approach - Wait for the breakout of the last high.
Aggressive approach:
M15 -- We have bullish convergence, wait for two waves down and then go long with the breakout of the most recent trendline. This is valid until the price respects the last low.