Note the long flagpole into this Flag pattern (channel) on the USDJPY. It is a good prediction of the same size impulse move out of the flag, in the same direction. I expect a breakout now, or one more move to the bottom of the channel, then a STOP RUN, and then an impulsive move up from the channel BOTTOM through the top of the channel in a continuation move. BUT; I always keep an eye out for an alternative play... because sometimes that does happen.
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Have a close look at the candles (formations) at the TOPS and Bottoms; the formation here now at the top of the channel is not BEARISH, but BULLISH.
Happy Trades friends!
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The fastest move are IMPULSIVE. The easiest way to catch them is to find them before and leading into flags and pennants, and watch for them to develop OUT OF flags and pennants! Plus; you can trade the entire flag top to bottom and bottom to top with very close STOPS. STOP RUNS usually happen at the bottom of the channel when the pole leading INTO the flag is from below. SO they run the STOPS at the bottom, leaving tell tale penetrations through the bottom of the channel to turn STOPS into BUY ORDERS to maximixe momentum on the way uo THROUGH the channel top. To beat the Banksters, like my trading "friend" "Robin Banks", heh heh heh, you have to know how they THINK.