HTFs - earlier in the year this index went into free fall. It's "bounced back" but the overall state of price has been very corrective. Separating the patterns, I can see an ascending wedge which moved into an ascending channel and is now very near significant highs |
LTFs - I'm just focused on the ascending channel section. There seems to be an expanding ending pattern at the end of the larger pattern which increases reversal probability. Price threatened to drop last week after rejecting at highs but is now creeping back up to high value area for a 3rd touch.
ENTRY - I suspect that this time price may break the immediate high within the expanding pattern to complete the overall structure. Pattern within a pattern so I'll be looking for an entry at the top of structure once the high breaks. If price action is impulsive upon approach, I'll just wait for the market to show a signal it's reversing and then wait for an entry.
LTFs - I'm just focused on the ascending channel section. There seems to be an expanding ending pattern at the end of the larger pattern which increases reversal probability. Price threatened to drop last week after rejecting at highs but is now creeping back up to high value area for a 3rd touch.
ENTRY - I suspect that this time price may break the immediate high within the expanding pattern to complete the overall structure. Pattern within a pattern so I'll be looking for an entry at the top of structure once the high breaks. If price action is impulsive upon approach, I'll just wait for the market to show a signal it's reversing and then wait for an entry.
Nota
Entry set on downside break of ascending pattern extension. May not be triggeredTrade attivo
Trade entry triggered by the spreadTrade chiuso: stop raggiunto
-1% loss. If alerts had been left on overnight, should have managed to break even
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.