Analysis: Utilizing chart patterns, highs & lows, and impulses & corrections, the focus is on identifying a continuation corrective structure following a breakout.
The price has approached the lower bound of a bullish continuation structure in confleunce with the lower bound of an ascending channel on the higher time frame (HTF) with a descending structure on the Mid time frame (MTF). The price has broken out of the MTF descending channel with a bullish impulse. We will now monitor for a bullish continuation structure to identify a potential entry point for the trade on the lower time frame.
Expectation: A upward move is expected, with the target at upper bound of the HTF continuation structure.
⚠️ Reminder: Always conduct your own analysis and apply proper risk management, as forex trading involves no guarantees. This is a high-risk activity, and past performance is not indicative of future results. Trade responsibly!
The price has approached the lower bound of a bullish continuation structure in confleunce with the lower bound of an ascending channel on the higher time frame (HTF) with a descending structure on the Mid time frame (MTF). The price has broken out of the MTF descending channel with a bullish impulse. We will now monitor for a bullish continuation structure to identify a potential entry point for the trade on the lower time frame.
Expectation: A upward move is expected, with the target at upper bound of the HTF continuation structure.
⚠️ Reminder: Always conduct your own analysis and apply proper risk management, as forex trading involves no guarantees. This is a high-risk activity, and past performance is not indicative of future results. Trade responsibly!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.