Long & Short Setup
Price is currently consolidating within a previous major support area, where we could consider opening longs assuming it closes above it. The next challenge we are faced with, is the current parallel channel which is more visible on the hourly time frame. I'm hoping to see the price break out of the channel and continue to the upside, retesting our long term descending trendline which ultimately corresponds well with our Fib 0.618 retracement area.
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