DOUBLE TOP: A double top as we all know is a popular reversal pattern that signifies that a trend is about to change and reverse to the opposite direction. From the charts,we can see a clear double top at 96.596 price level.
ASCENDING CHANNEL: An ascending channel as we all know is a trend reversal pattern that allows us to anticipate and capitalise on huge...
Price formed an ascending channel immediately after the breakout of the Large Bear Flag. This gives us a clear indication that price is about to reverse to the downside. We target the lower trendline of the large bear flag as por minimum take profit level and target even lower if price breaks below the large bear flag.
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We Were Trending Clearly to the Upside Making Higher Highs and Higher Lows as Proven by Our Upward Trendline.
We Had a Clear Break of our Higher Low.
What We Should Wait for is A Retest of Our Broken Structural Higher Low Before We Go Short.
Its Also Pertinent To Note That The Retest Will Form Our New Lower High
After Retest,We Should Wait For Price Action...
