Chart patterns are usually order accumulation areas, that serves as liquidity for institutions. As you can see from the Flag pattern on H4, even thought is a not perfect pattern, there are many buys and sell orders without TP or SL being hit. This is a trend continuation pattern so it make sense to go with SELL scenarios.
On H1 There is another accumulation area creating. The price might break in the up side creating some false break move, and than continue in the down side.
SELL confirmation indicators:
1. Red Renko brick
2. Flag patter-n in downtrend
3. Support at 18500-18000 will serve as profit target. Price might brake under this.
4. On H1 another pattern is forming, rectangle. This one as a double bias. If price breaks under 19300, than this will be a good SELL opportunity.
Entry - Break of the down side of the H1 rectangle at 19300
SL - 19450, phycological level and half of the rectangle
TP - 18700, close to support area
Be aware of false breaks on both sides of the H1 rectangle.
Don't stumble trading. Trade Safe!
On H1 There is another accumulation area creating. The price might break in the up side creating some false break move, and than continue in the down side.
SELL confirmation indicators:
1. Red Renko brick
2. Flag patter-n in downtrend
3. Support at 18500-18000 will serve as profit target. Price might brake under this.
4. On H1 another pattern is forming, rectangle. This one as a double bias. If price breaks under 19300, than this will be a good SELL opportunity.
Entry - Break of the down side of the H1 rectangle at 19300
SL - 19450, phycological level and half of the rectangle
TP - 18700, close to support area
Be aware of false breaks on both sides of the H1 rectangle.
Don't stumble trading. Trade Safe!
Trade active
Trade closed: target reached