At the break of the ascending channel, I believe that the price will break through & make its way to the downsides. Recommend to set 25-30 pips SHORT LOSS.
After seeing impulsive pulldown to complete the third touch before spiking to upside under the influence of descending channel. Recommend to take 2 positions NOW, one of which can be closed when prices reached the first TP level while the other one at the second TP level.
Positions have been running these two days & prices are expected to shoot after impulsive breakthrough of the descending channel as you can see in daily chart. It will keep its momentum for at least a month before reaching TP (take profit) & total rewards would be quite appealing, up to 900pips. In short term, it's possible to catch 50-100 pips per day. If you are...
Looking into the hourly chart, price is already out of the break of the structure & continuing to consolidate before shooting higher. Daily pips catching could be around 50-100 pips so doing scalp trade would be ideal. Will keep posted with latest news. Stay tuned.
I have been catching pips on this pair & so far gained 175pips in total in the past 2 days. Analysing in weekly chart, descending channel has been formed & broke through the structure. Personally, would recommend short term hold for stable income or holding position between 2 weeks to a month.
In higher time-frame structure(i.e. 1D/1W), ascending channel structure is obviously formed & looking for pattern breakthrough to the TP as shown in the graph. Looking for potential SHORT TERM/ LONG TERM sell position at the brink of the structure. Looking into lower time-frame( i.e. 15mins or even 1h chart), little ascending channel is formed & candles touched...
Reached the top of the ascending channel structure, we can now look for SELL setup & possibly hold the position for few weeks, allowing it to dip to the downside. Now waiting for indications like 1H retrace candle or evening stars to get into the trade & manage it promptly.
Clear formation of descending channel within bigger channel. Looking for upside movement 60 pips at least. Triggered in & wait for management.