Looking at our trend timeframe we see price continuing to respect our downtrend, stochastic rsi showing momentum shifting in favor of bulls. Last time we were at this price we saw a spike from 1000 up to 6200, will price action repeat itself.
Shifting over to our pattern timeframe we see price has tested our downtrend twice and has failed. Stochastic RSI showing momentum is in favor of bulls, but temporarily we have slowed down. A daily close above 1300 activates our trade, however if rejected at this level expect a sell off towards 1000.
