On the chart we can see a descending falling channel. The price remains inside the channel.
If the price retests the downsloping support, it would be the entry for a long position.
The target would be at the downsloping resistance.
If the price moves higher and retests the resistance, it would be the entry for a short position.
We would target the lower boundary of the channel.
Two possible scenarios are shown on the chart.
If the price retests the downsloping support, it would be the entry for a long position.
The target would be at the downsloping resistance.
If the price moves higher and retests the resistance, it would be the entry for a short position.
We would target the lower boundary of the channel.
Two possible scenarios are shown on the chart.
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