SAMMYPHAKE

SAMMYPHAKE

After the break of the ascending pattern price gave us the first impulse as a break then started to create a correction which is clear on the 15-min timeframe. this is an opportunity the market is presenting sooner or later price will be picking the momentum to the downside

SAMMYPHAKE

when you are dealing with structure and patterns you have to know what is most probable and possible, chart patterns take time to develop you have to be patient, and you must know their characteristics

SAMMYPHAKE

the ascending channel we are currently seeing simply give us an idea of what is mostly like to happen next, combining it with multitouch confirmation

SAMMYPHAKE

now that the price has broken the HTF Structure then form a continuation pattern we looking to capitalize on this

SAMMYPHAKE

been waiting patiently after double top and the first impulse was the convincing push to the downside, Then I will be waiting for a tight correction and take a break.

SAMMYPHAKE

Two scenarios show how we can look for buying opportunities in this pair. Firstly, by looking at patterns within patterns, i can laterally take advantage of that pattern within the structure and look for buying opportunity on the third touch.

SAMMYPHAKE

still see the potential to move to the downside. The first impulse shows the momentum to the downside, creating a correction to create more opportunities to the downside.

SAMMYPHAKE

Now the price is at the top of the expanding pattern as forecasted. i can start by looking at how the price got there.

SAMMYPHAKE

will be looking at the management side of this trade

SAMMYPHAKE

After taking a break-even on CADCHFT I then realized that I was in the middle of a developing expanding pattern. At this point i will be waiting patiently to see how the price gets to the third touch of this pattern.

SAMMYPHAKE Updated 

USDCAD looks perfect at the top of the structure with a 15min ascending channel