On the daily timeframe, we can see a channel formation, which can give us some rather simple trading opportunities. We are currently waiting for the price to bounce off the lower support line, and expecting a bullish move to the upper line of the channel. Waiting for the price to bounce before going into the trade, as the price may break the lower support line and continue in the bearish direction.
On the 4H timeframe, the price has just bounced off the lower support line and was advancing upwards. Now we are in a smaller corrective phase. Be cautious as the price may even retract the whole way down to the lower line of the channel. If so, the buying there, If we see another bullish move right after the smaller correction, then we do expect the price to advance all the way to the upper resistance line.
We wish you good luck with your trading!
We wish you good luck with your trading!