As above so below. I have put the hourly price action neatly into a descending channel. I have seen this interpreted as a falling wedge as well. But, I am looking at wicks too. They often get confirmed insofar as they can broadcast potential channel development. I have an alarm set on trend line A. If this breaks with a nice impulse candle then the upper CME gap will fill. This may provide a long opportunity. But, It's the one below. We have hovered above and foraged within and looking at the development of the daily there is indecision so far. Looking at the Alts I see great areas of untested regions. I just can't shake a bearish sentiment at the moment.
Summary: Ultimately short but an upwards move to fill the upper gap a possibility. Alarm set on that trend line.
Summary: Ultimately short but an upwards move to fill the upper gap a possibility. Alarm set on that trend line.
