As we can see price had been descending in a channel.
Then we broke out where we are now creating a inverted head/shoulder pattern.
I will be looking for a entry on the 15TF where the W-formation is created, what tells us we are going to reverse.
I will be setting 2 take profits.
First around 70 pips where partial take profit is taken.
Second around 200 pips profit.
Then we broke out where we are now creating a inverted head/shoulder pattern.
I will be looking for a entry on the 15TF where the W-formation is created, what tells us we are going to reverse.
I will be setting 2 take profits.
First around 70 pips where partial take profit is taken.
Second around 200 pips profit.