HTF - still looking at the heavy bearish move from previous weeks, since then price has been in one large correction signalling more downside likely |
LTF - separating the patterns to see a completed 3 touch ascending wedge followed by a larger bear flag. Clean middle section to flag and ascending channel is forming, hinting at pattern completion |
ENTRY - this is more ambitious due to the overall corrective nature. So I will be waiting for internal highs to break followed by a signal from the market in the form of a bearish impulse from top of the pattern. Only once I see a flag, will I be eyeing a short entry.
LTF - separating the patterns to see a completed 3 touch ascending wedge followed by a larger bear flag. Clean middle section to flag and ascending channel is forming, hinting at pattern completion |
ENTRY - this is more ambitious due to the overall corrective nature. So I will be waiting for internal highs to break followed by a signal from the market in the form of a bearish impulse from top of the pattern. Only once I see a flag, will I be eyeing a short entry.
Comment:
Still looking at this for a sell after evolving the structure to an overall ascending wedge. Price has broken highs and now correctively approaching upper trendline for a 3 touch pattern completion. I'll be waiting for a solid rejection for an entry at top of structure or a bearish impulse and first flag. Potential for 2 entries