Momentum is Slowly Building
Momentum is slowly building in this market towards a breakout.
Whilst a breakout higher would be favorable as it would be inline with the overall higher time frame uptrend, I will be watching the price action for any major breakouts.
If price ends up breaking lower, the smaller time frames could provide a lot of trading opportunities for both straight breakouts and breakout and re-test trades. These could also be very high reward trades as price has a lot of room to fall lower into.
Whilst a breakout higher would be favorable as it would be inline with the overall higher time frame uptrend, I will be watching the price action for any major breakouts.
If price ends up breaking lower, the smaller time frames could provide a lot of trading opportunities for both straight breakouts and breakout and re-test trades. These could also be very high reward trades as price has a lot of room to fall lower into.
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