This is a relatively easy analysis, we are monitoring this bearish corrective structure, also known as flags, pennants, wedges, etc. These patterns are easy to identify and trade with proper risk management. Although the pattern is present we must wait for a a break of structure on lower timeframes for best entry. Our target will be the next major support/resistance.
Always use a stop loss when trading and use proper risk management.
Happy trading
Always use a stop loss when trading and use proper risk management.
Happy trading
Trade closed: target reached:
Trade opportunity has been completed