Let's start by looking at the daily chart on the surface. Currently, there is no apparent top distribution in the upward trend, so there is no signal of termination for this trend for now. We need to closely monitor when the top distribution in this trend will be established, as only when the top distribution is confirmed can the trend possibly come to an end.
Continuing to observe on a smaller time frame using the range trap:
On the 15-minute chart, the second center is being constructed. We need to pay attention to the strength of the current upward movement.
- In the red trend, if a new high cannot be reached, beware of a sell signal. Reduce long positions and layout short positions here.
- In the green trend, if the bulls break the new high with strength, then observe for signs of bearish divergence. If there is bearish divergence, continue to reduce long positions to prevent the termination of the 15-minute trend type.
Of course, the strongest scenario is breaking the new high without bearish divergence. In this case, long positions should be held first to observe the subsequent trend development.
According to the principles of the "Chande Kroll" theory, we do not make predictions, only classify the current trend and make contingency plans. Completely follow and respond accordingly.
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