price trap

British Pound/Australian DollarFXCM

Description

⋅ Aug 14, 2019 9:52 AM

AScending scallop pattern forming (bullish pattern)

wait for a break of resistance (Ceiling)
wait for a RETEST (where price closes above the previous level of resistance)
Once price confirms resistance as a new support (floor), it is safe to enter.
Price doing this is a shift of momentum