Here's the problem. We have the larger TF indicator swings going in opposite directions. The 4-hour is Strongly down trending and the Daily is positive and up trending. The 1-hour has bottomed out and is attempting to push PA for a sideways action.
I have a "Green-Channel" - "Bearish Pennant" I have an "Orange-Channel" - "Up Trend" I have a "Blue-Channel" - "Down Trend"
All in all, I still trade off my 8 indicators, however knowing a probable direction of PA in a channel is very helpful.
I am posting all these channels because it is not clear where the PA is going to go.
It maybe the likely hood that PA moves in channels of sideway trends.
Patience... it is the weekend and volatility is generally low and sporadic in frequency of volatility fluctuations.
Also, PA has a long way to the downside if it wants to reset indicators. "Caution" to the downside
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