Price has been moving upwards for the past few days in a corrective manner. It approached both the trend-line resistance and horizontal resistance with a high probability setup which is a pattern in a pattern. Gave us a clean ascending type pattern in a reversal ascending type pattern tp the downside.
Price has broken out to the downside on our weekly and daily, We moved to the upside on smaller time frame and price moved in a corrective phase as we see that it has gave us bearish flag that represents a break to the downside. The time of entry that we looking for is slightly aggressive due to us entering a short trade before price has broken the flag structure....
We still have the 240 min Ascending triangle on the DXY, Fridays move tested the previous days high but couldn't break it.
It came back down and failed to break the lows too. We might possibly see the second peak of the double bottom thus pushing price
higher to break our previous highs
Price approached H4 resistance in a corrective manner and happened to have printed a pattern that shows a move to the downside. It gave us a bearish pattern in a bearish pattern and these are high probability setups
We saw on the daily time frame price gave us a nice Head and shoulders. It eventually broke the neckline impulsively and came back up to retest. In the form of it retesting it eventually gave us a gartley pattern supported with a rising wedge to support our movement to the downside. We looking at a potential 220 pips short trade.