DOUBLE TOP: A double top as we all know is a popular reversal pattern that signifies that a trend is about to change and reverse to the opposite direction. From the charts,we can see a clear double top at 96.596 price level.
ASCENDING CHANNEL: An ascending channel as we all know is a trend reversal pattern that allows us to anticipate and capitalise on huge RR trades. The trend reversal is confirmed when price breaks out of the ascending channel impulsively. After the breakout of an ascending channel,the best thing for us to do as traders is to patiently wait for price to give us further indication that its actually going to continue to the direction where it broke to (UP or DOWN).
PROFIT TARGET We use the start of the ascending channel as the minimum take profit level.This is in line with the concept of the 90% rule.
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ASCENDING CHANNEL: An ascending channel as we all know is a trend reversal pattern that allows us to anticipate and capitalise on huge RR trades. The trend reversal is confirmed when price breaks out of the ascending channel impulsively. After the breakout of an ascending channel,the best thing for us to do as traders is to patiently wait for price to give us further indication that its actually going to continue to the direction where it broke to (UP or DOWN).
PROFIT TARGET We use the start of the ascending channel as the minimum take profit level.This is in line with the concept of the 90% rule.
IF YOU FIND THIS ANALYSIS USEFUL,
PLEASE KINDLY LIKE AND FOLLOW FOR MORE