Drawing this curved channel we can see consistent rejections along the top (red) line, price has recently hit this line and been rejected
There are two options now for price recovery, at the yellow line, which is a trend established from previous price points
Or the 200MA (in green) which has conversely seen a lot of support touches
The 200MA entry is a more reliable choice in my pov
The breakdown is a result of a rising wedge pattern
There are two options now for price recovery, at the yellow line, which is a trend established from previous price points
Or the 200MA (in green) which has conversely seen a lot of support touches
The 200MA entry is a more reliable choice in my pov
The breakdown is a result of a rising wedge pattern