Thanks for the info. Makes sense that there is not much movement in the weekly chart cuz it's not even a week yet and that chart only gets one bar per each week's passing. LOL
The shorter term chart of daily and 60 min. both show slightly more downward bias. And the shorter the tf, the stronger the downward bias but they are still not exhibiting a significant downtrend as the PA is still making higher low's. To me, a clear downtrend would be if the PA is making both lower high's and lower low's. I believe the uptrend is still in the play but it's that you are going to see the price going down in the interim.
In the long run from the weekly chart's point of view, the uptrend is still in play but the price is currently in a congestion zone so you are going to see some back and forth up and down PA until it breaks out of that zone to go up further. The shorter tf is going to play out the congestion and you are gonna see some downward movement.
So how you trade is going to depend on which tf you trade on. If you want to trade in the shorter tf than weekly, you can short whenever the price makes a top with stops at the top and keep in mind the uptrend that still exists in the weekly tf so be prepared to reverse either when the stop is taken out and/or after tp'ing cuz the downtrend might not last long. If you are trading longer tf like the weekly tf, then you can either wait until it breaks out of the congestion zone at the right end of the pennant that I marked on the original chart or you can enter long right now while waiting for the breakout.
This is my 2 cents. Hope it helped you in some way.
