usdjpy 21/08/2018
analysis :
daily : forming big ascending channel that contain a descending channel / falling wedge pattern ,
price have potential to move up to complete the down wave from top of the ascending channel .
4h/1h: price sitting at the bottom of the falling wedge with 3rd touch .
Plan :
wait for a clear rejection of the bottom pattern with "arc double bottom " or " descending channel" within the falling wedge
target : see what happen when price touch the top structure of the falling wedge , if the nature is corrective then look for cut off point to lock in profit , if the nature is impulsive then hold until the next structure
daily : forming big ascending channel that contain a descending channel / falling wedge pattern ,
price have potential to move up to complete the down wave from top of the ascending channel .
4h/1h: price sitting at the bottom of the falling wedge with 3rd touch .
Plan :
wait for a clear rejection of the bottom pattern with "arc double bottom " or " descending channel" within the falling wedge
target : see what happen when price touch the top structure of the falling wedge , if the nature is corrective then look for cut off point to lock in profit , if the nature is impulsive then hold until the next structure
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