Spring setup - Daily || Look for opportunity on lower timeframes

Apr 2, 2021

Short term reversal to the next resistance level
Based on the convergence of a higher timeframe trendline and the POC level from the last consolidation + RSI divergence. Overall Uptrend
This is not a AAA setup because the reward is small if you take into consideration all the resistance it has to go through (highlighted in purple).

To me, the sellers are getting exhausted and a bounce is likely to happen here.

Here are the charts on the lower timeframes:

• Daily zommed in :
  
• 4H:
  
  
  1H:
  

Apr 2, 2021

Note

Update: we can still expect the price to manipulate to the POC of the beginning of the last aggressive up move to find more liquidity before the actual bounce.