Short term Sell Massive Buy
Monthly - We have a large ascending structure we are then looking at the most recent price structure within this and we have had a smaller ascending channel which price broke our and we are now heading towards the large outer structure. we have one candle wick that has touched outer structure
Weekly - on the weekly, we can see we have just slowly made our way down to the outer structure in a corrective way nothing which would urge me to want to take a trade yet.
Daily - on the daily, I can see the descending channel and an ascending within it which looks like its hitting a double top of previous high moved up to this point correctively this could be a potential shorting opportunity will check this out more on 4 hor and 1 hour.
4 Hour - Look for the third touch of the channel or the double top with clear rejection and override candle, we can also see an ascending within an ascending giving us more confidence in the selling potential. this trade is looking good break down the 1 hour and 15 min for the entry.
1 Hour - on the 1 hour we see a clear ascending channel at the end of a small impulse(running channel) this indicates a slow in buying pressure and the reversal is close, we need more than this we need to either make the third touch and then get a retrace candle or break the previous high and then get retrace candle. my entry plan for the different scenarios is below.
risk entry #1
Risk Entry at the Top of Structure
Double Top Formation
Ascending Channel
Where price is within the structure is an important aspect to note when taking these positions as it can reject multiples times before finally committing to itself. Be prepared to enter multiple times as price can stall at the top of the structure before entering the impulsive leg.
Risk Entry #2
Top or Bottom of Structure
Breakout of Ascending
1H Hover
At least 6-8 1H candles before placing an entry order 2-4 pips above or below the correction. The Hover is more probable if the correction that forms is tight either flat or with a slight ascending/descending nature to it.
Risk Entry #3
Risk Entry Top structure
three Touch Reversal Channel
Retrace Candle
wait for the 1H close before setting an entry order a few pips below. The alternative is entering on a 15M rejection for a more precise entry.
Monthly - We have a large ascending structure we are then looking at the most recent price structure within this and we have had a smaller ascending channel which price broke our and we are now heading towards the large outer structure. we have one candle wick that has touched outer structure
risk entry #1
Risk Entry at the Top of Structure
Double Top Formation
Ascending Channel
Where price is within the structure is an important aspect to note when taking these positions as it can reject multiples times before finally committing to itself. Be prepared to enter multiple times as price can stall at the top of the structure before entering the impulsive leg.
Risk Entry #2
Top or Bottom of Structure
Breakout of Ascending
1H Hover
At least 6-8 1H candles before placing an entry order 2-4 pips above or below the correction. The Hover is more probable if the correction that forms is tight either flat or with a slight ascending/descending nature to it.
Risk Entry #3
Risk Entry Top structure
three Touch Reversal Channel
Retrace Candle
wait for the 1H close before setting an entry order a few pips below. The alternative is entering on a 15M rejection for a more precise entry.