Identify which phase of the market you are currently in.
DAILY
Still in the correct phase of the bull trend. 37060, our significant support area where we believe the correction phase will start to phase out. We had an ascending wedge, which we broke and have just kept going down since then, forming bear flags on the way down.
4H
The flat flag pattern is not confirmed as we only have 2 touches on either side, with price hanging in the middle we watch and stay waiting. We have placed to trade ideas, one is the super risk entry the other is the reduced entry. The risk is triggered and we just waiting for the reduced entry to be triggered.
1H
Forming a pattern within a pattern (another bear flag) within the possible flat flag. So we can believe the trend we have concluded the bear movement.
DAILY
Still in the correct phase of the bull trend. 37060, our significant support area where we believe the correction phase will start to phase out. We had an ascending wedge, which we broke and have just kept going down since then, forming bear flags on the way down.
4H
The flat flag pattern is not confirmed as we only have 2 touches on either side, with price hanging in the middle we watch and stay waiting. We have placed to trade ideas, one is the super risk entry the other is the reduced entry. The risk is triggered and we just waiting for the reduced entry to be triggered.
1H
Forming a pattern within a pattern (another bear flag) within the possible flat flag. So we can believe the trend we have concluded the bear movement.
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.