Consolidation Swings
Just realized THREE CONSECUTIVE PATTERNS before break-out, The first pattern was on my previous day analysis and I was expecting a break-out in a while from the weekly Flag bearish Pattern.
So I guess it makes sense to me that a weekly Flag Pattern may influence a lower Time-frame to form - three to five consecutive patterns before a [bBearish Breakout.
Just realized THREE CONSECUTIVE PATTERNS before break-out, The first pattern was on my previous day analysis and I was expecting a break-out in a while from the weekly Flag bearish Pattern.
So I guess it makes sense to me that a weekly Flag Pattern may influence a lower Time-frame to form - three to five consecutive patterns before a [bBearish Breakout.
Comment:
Cheack the "four hour Time-Frame" not the Weekly!
The bottom line @ about 122.800 will be my support area and the top @ 123.800 will my resistance area with a range of 100 point in between equaiting to Daily Ranges for counter-trend traders.