broke the daily double top then price retraced instead of heading for the outer structure, currently creating a bear flag to head lower looking for the 3rd touch of the flag before entering short. if we trickle to the 3rd touch of the flag then risk entry and if this trade commits ill be looking to hod it long term at leas t to the low of the pattern
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.
UJ is once again at the same key area as the previous last 2 big short trades. Still needs a bit more development on the 1hr time frame for me to take this as a risk entry however i will be keeping a close eye on this at the start of next week.
If we fail to get a clean pattern before the drop ill look to aggressively take an entry on the first continuation that...
Patterns withing patterns are some of the highest probability trades that we get.
We now have a clear mini ascending channel forming inside the larger ascending with potential for both the 3rd touch areas to line up.
Price could however form a continuation here and then drop so we will have to be patient and wait and see if price can correct up to the key areas...