As we have seen we formed a larger double top pattern but didnt get a early entry as the market just broke out impulsively. we now got a bear flag after the impulsive breakout which confirms movement to the downside. entries after the breakout
So our entry on friday and scale in was taken out yesterday for a descent 1:1.4 RR. The market still hasnt given us that move to the downside but instead evolved into a larger flag to which market structure allows us to enter from.
This type of entry is more risky than usual entries yet it presents a good risk to reward. as we can see due to multi timeframe analysis we are on out third touch and got an impulse to the downside. A large flag presented its self and we waiting to be triggered in.
combined with multitiouch confirmation on the HTF we are on our third touch to which we reached with a ascending wedge. we broke out impulsively and created a bear flag
As we can see eurusd broke out of a reversal pattern descending channel and formed a large correction bull flag. from there it formed a pattern within a pattern an broke out
As seen last week our structure has formed an extension of the third touch to test outer structure. we are now looking for a smaller chart pattern to enter the trade and bank a nice RR.
we are forming an extension of the third touch to test HTF structure. We see this by lack of momentum to the upside and will take an entry at break of structure
Along with multitimeframe analusis and multitiouch confirmation Eurjpy is on its third touch of structure forming a reversal pattern ascending wedge indicating momentum to the downside.
Combining multi timeframe analysis and multitouch confirmation we are forming an ascending channel at a area where we are overbought and awaiting a sell as it is supported by the dollar index
NZDUSD seems to be ready to got for a sell as it failed it break the previous low and formed a rising wedge continuation pattern ..a entry on Tuesday seems to be ready to present its self..
As we can see GBPUSD had broken the previous resistance level with intense bullish pressure where it created an impulse. it than failed to create a correction and instead created a reversal pattern to possible retest the previous resistance to turn it to a support. at the moment we will be looking for a short term sell opportunity once price breaks out of the channel.
