On the 4hr, UJ is on a downtrend, based on the larger channel, but on the 1hr, UJ has been respecting an uptrending channel. If UJ reaches the bottom of the small channel, i see either of 2 scenarios:
1. UJ goes back to the top of the bigger and smaller channel
2. UJ breaks the bottom of the small channel and reaches the bottom of the big channel
Note
A confirmation of either of the 2 scenarios is when price makes HH, HL to signal an uptrend or LH, LL to signal a downtrend
1. UJ goes back to the top of the bigger and smaller channel
2. UJ breaks the bottom of the small channel and reaches the bottom of the big channel
Note
A confirmation of either of the 2 scenarios is when price makes HH, HL to signal an uptrend or LH, LL to signal a downtrend