D1 - Price moving inside a channel. We had a bearish momentum followed by a flat correction.
There are two possible scenarios now:
Scenario 1: We may expect the price to bounce from the bottom for another push up towards the top of the flag.
Scenario 2: Alternatively we may expect a breakout at the bottom of the flag and the price to hold below it. Then we may expect continuation lower towards the big D1 channel.
Note: Confirmations for the buys would be found on the lower time frames. Once bullish divergence forms, wait for the price to break above the most recent down trend line and continue higher.
There are two possible scenarios now:
Scenario 1: We may expect the price to bounce from the bottom for another push up towards the top of the flag.
Scenario 2: Alternatively we may expect a breakout at the bottom of the flag and the price to hold below it. Then we may expect continuation lower towards the big D1 channel.
Note: Confirmations for the buys would be found on the lower time frames. Once bullish divergence forms, wait for the price to break above the most recent down trend line and continue higher.