Description
⋅ In the current market structure we can clearly see a impulse move that break the Ascending Channel and created a possible continuation (Bear Flag)
Confluence:
1. Double Top
2. 3rd Touch of Ascending Channel
3. Impulsive move that break the ascending channel
Conclusion:
If the price create a bear flag then break we are looking for a 2 setups
Setup #1: We can enter a long if the pattern was formed
Setup #2: If it forms a bear flag we are looking for a sell because in the higher time frame (1D) there is a expanding channel form a impulsive move
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*This Market Analysis is for educational purpose only. Trade at your own risk*