HTFs - Looking left there is a clue in the heavy bearish momentum which is then followed by a sideways correction. Basically a simple impulse correction on higher time frames and anticipating a further impulse. Price has been ranging for a few weeks but looks to have completed following the 3rd touch rejection at the top of the pattern
LTFs - price has rejected multiple times off the highs at top of structure and then finally just pierced above, and immediately reversed with a short sharp drop
ENTRY - as price was pretty bullish on it's approach to outer structure, I was waiting for the bearish impulse and the first flag. After that happened, entry has already been triggered just on the downside break of the first flag
LTFs - price has rejected multiple times off the highs at top of structure and then finally just pierced above, and immediately reversed with a short sharp drop
ENTRY - as price was pretty bullish on it's approach to outer structure, I was waiting for the bearish impulse and the first flag. After that happened, entry has already been triggered just on the downside break of the first flag
Trade active
Entry triggered just before 09:00 GMTTrade closed: stop reached
-1%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.