I have a down trending slope that has bullish context(resistance becoming support) and an up trending slope with bearish context(support becoming resistance)
I am waiting to see which slope is in control. I am short term bearish as we are still under the neckline of the H&S pattern but long term bullish as MACD has bullish divergence as price has declined. See my other post.
For me to become fully bullish, I would first need to see price take out the neckline of the H&S and would prefer to see the same line act as support then second I would need to see the top of the downtrending slope be taken out by price. For now, I am playing the waiting game.
I am waiting to see which slope is in control. I am short term bearish as we are still under the neckline of the H&S pattern but long term bullish as MACD has bullish divergence as price has declined. See my other post.
For me to become fully bullish, I would first need to see price take out the neckline of the H&S and would prefer to see the same line act as support then second I would need to see the top of the downtrending slope be taken out by price. For now, I am playing the waiting game.