123 BREAKOUT PRINTED
HEAD AND SHOULDERS PATTERN PRINTED
FUNDAMENTALLY BEARISH BIAS FOR THIS PAIR THIS WEEK
IVE BEEN IN THIS TRADE SINCE 1.44XXX BUT THIS IS NOT A BAD SETUP FOR AN ADDITION SCALPING POSITION
1) Wedge at bottom of Long-term Trendline Breakout Failure, also Double bottom. Strong Bullish Signal Bar, Good Context, Ok Buy for at least a scalp up, depending on Follow thru perhaps reach upper support at 0.7740.
Although it is the 15 minute chart, and considered a very small time frame, these kind of setups are profitable.
The end of the price consolidation as seen above will be signaled by a break of the trendline.
Oil scalp tp: Long till 53.03.
Most likely the scalp could evolve into a swing soon. But at this point its safe to buy up to at least the 1d ma cross of 8-6ma. If that breaks we'll put our target higher.