1. A ( ) completion
2. Top of down trending chanel
3. Breakout area of previous formation, which has not reached a 1:1 measured move target yet
4. We have end of May
1. The previous breakout area has been tested twice and we had a breakout to the upside. (Blue Triange)
Conclusion: This is perhaps not(!) a high probability trade,
but therefore we have a 5:1 R/R ratio.