Hey guys,
in this pair price recently broke and closed above the previous resistance area. Therefore we're looking to get on the trend as soon as we can.
When such big impulses happen, there's usually no space for deep retracements, and so we need to use some simple patterns (flag, triangles) in order to catch the move higher.
In this case you can see a flag pattern already broken.
Wait for a retest of the trendline or a 618 retracement and then you can buy.
Target1 at the retest of the highs, target2 to be determined.
Let's see.
If you want to share your viewpoint or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
in this pair price recently broke and closed above the previous resistance area. Therefore we're looking to get on the trend as soon as we can.
When such big impulses happen, there's usually no space for deep retracements, and so we need to use some simple patterns (flag, triangles) in order to catch the move higher.
In this case you can see a flag pattern already broken.
Wait for a retest of the trendline or a 618 retracement and then you can buy.
Target1 at the retest of the highs, target2 to be determined.
Let's see.
If you want to share your viewpoint or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached:
Both targets hit!
The blue box means "Next Level of Structure"
The lower black box "Broken Resistance becomes Support"
The upper black box "New High"