Looking for a short risk entry at at the top of the bear flag to the downside.
We can see heavy impulsive movement to the downside that is then followed by corrective price action forming a bear flag continuation.
30-45 pip stop with about 10 to 12% reward if it meets the profit target at the beginning of the channel.
Third touch of ascending channel followed by a corrective double top.
Position taken on the break of the structure (I did get to it a little late so I have an additional 5 pip on my stop).
Profit target +6% to the bottom of the channel. Second profit target +19% to the beginning of the channel (ray line)
Price has broken a third touch of a daily ascending channel with very corrective price action.
The hourly ascending channel third touch (pattern within a pattern) also aligns with the daily third touch.
I am seeing if the market gives us an entry such as a double top or a hover (bear flag) along the bottom of a channel.
Ideal entry will be 20-25 pips.
Price has just extended an expanding triangle and approaching a double bottom.
Keeping an eye on the nature of the candles to see if it forms a reversal descending channel.
Looking for an entry on the double bottom value area. Lots of room to the upside.