3 touch expanding continuation, ascending within ascending, risk entry anticipating the next impulsive phase. if i wasn't in another trade i would set the order as it is but it is what it is. also we are approaching daily close time where the spreads are high.
The monthly chart has confirmed completion of a 5 wave impulsive move and price action continues within a rare and complex expanding triangle formation.
The bearish engulfing candle on this chart will be confirmed in the next 48 hours.
The daily chart shows a head & shoulders formation with prices currently testing the neckline.
A clear break and close below this...
Waves C, D and E each moves beyond the end of the preceding same-directional subwave.
Subwaves B, C AND D each retrace at least 100 percent but no more than 150 percent of the preceding wave.
A line connecting the ends of waves B and D diverges from a line connecting the ends of waves A and C.