A price action pattern is forming that is similar to the one in early august (blue circle). If this fractal follow through, there will be a breakout from the decending channel and the ichimoku cloud would be pierced which very bullish.
The bearish scenario is that the fractal fails to develop, there is a possibility that the price fail to break the its descending channel , as also seen in the RSI.
The bearish scenario is that the fractal fails to develop, there is a possibility that the price fail to break the its descending channel , as also seen in the RSI.
