So we making lower highs - pretty much following a trend down (red diagonal) - with some support along blue horizontal. Although it's defined, it's a little bit fuzzy, but sure a descending triangle. RSI is also not in oversold territory, not 100% sure if it would be even hitting support. Volumes are way down.
So not trying to get this one at the bottom - rather will wait for it to break trend - that said, has the makings for a false breakout. So will looking for increase volumes over a few bars, would like oversold to be touched on RSI. To be fair - set up looks a little better on 2hr and 1hr charts - but want the 4hr to look a little better before entering.
if you draw the line through lows its in an upward trend. better look at trend direction index. there's some thoughts on indicators here in case you're interested
https://steemit.com/ethereum/@chrishronic/basics-on-technical-trading-rules
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