Hello Traders,
Here we have a wedge pattern formed as the market seems to be consolidating. With this type of pattern the market is likely to breakout in the direction it was previously in before the formation of this wedge pattern, in this case it was very bearish. But for now we'll take both upside and downside breakout for this pattern. We are basically looking for a 4 hour breakout and retest of the wedge. We enter long/short, depending on the direction of the breakout, on the retest of the wedge pattern. See the chart for more details.
Note: We got high impact news coming out of both Europe and Canada tomorrow. Take this into account before entering.
Trade safe and Good Luck !!
Here we have a wedge pattern formed as the market seems to be consolidating. With this type of pattern the market is likely to breakout in the direction it was previously in before the formation of this wedge pattern, in this case it was very bearish. But for now we'll take both upside and downside breakout for this pattern. We are basically looking for a 4 hour breakout and retest of the wedge. We enter long/short, depending on the direction of the breakout, on the retest of the wedge pattern. See the chart for more details.
Note: We got high impact news coming out of both Europe and Canada tomorrow. Take this into account before entering.
Trade safe and Good Luck !!