1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
BRFS has formed a H&S on the daily chart. All indicators pointing down and trend is down. Higher time frame charts suggest further declines. Lower time frame charts suggest small and short advances in the near future, so be patient.
We are in a fresh upward trend, which set back to a important support zone.
The market struggled to close above 17,25$.
If the market closes above 17,25$ I would open a long position.
The SL can be placed under the last low or the support zone.