It depends on which trend channel is stronger here: I would like to see the price bounce off the upper trendline of the flatter trend channel and come up to the upper trendline of the more steep one, slightly making a new ATH.
Alternatively, the trendline will be broken downwards to touch the lower trendline of the steeper channel first, and also the long zone and a support which would make great turnaround signals.
I prefer the first szenario since the upper trendline of the steeper trend-channel hasn't been touched yet, so if the lower trendline gets hit first, his is also a sign of weakness.
Alternatively, the trendline will be broken downwards to touch the lower trendline of the steeper channel first, and also the long zone and a support which would make great turnaround signals.
I prefer the first szenario since the upper trendline of the steeper trend-channel hasn't been touched yet, so if the lower trendline gets hit first, his is also a sign of weakness.