We are going to carry out an analysis from highest to lowest. We will start with the highest timeframe (Weekly), and we will go down to 8H.
🔸Here we can see how the price managed to penetrate the Descending Trendline that was in force for more than six years. After the break, it consolidated in the area for a few weeks, and now we see clear intentions for a move. We go to the to see this behavior in more detail.
🔸These two timeframes provide valuable information about the price context, but we need more precise information to take a trade. That is why the main timeframe is 8H (published in the idea).
🔸In this timeframe, we see clearly within the . After correcting for a few weeks and staying in a kind of range, the price yesterday was able to break the corrective structure with a force. We consider that there is potential towards the next (previous high).