Short Term: I could see price impulsing out of the symmetrical triangle that its in right into HTF Structure.
Long Term: It Appear price is Setting up to reach a High Time Frame Level Notorious for dropping based on Historical Price data; Approaching the top of a HTF Expanding Wedge I believe we may see and Drop in the near future for at least 700 Points, May the...
You can project profit targets by knowing Price will go as far as the vertical length of the pattern that price stretches too.
Because of different patterns sizes, you'll have different profit projects depending on the size of the pattern.
Doing 50 pips, 100 pips even 20 pips a trade only works depending on the size of pattern.
Set your project profits based upon...
Same Pattern
Same Time Frame
Different Size
This is possible and something you should be aware of.
If its not impulsing its Correcting/Consolidating and during these time periods, Patterns are created.
Be on the look out
2nd leg M formation
Rising Channel
Rising Wedge
Rising Channel With Bullish Divergence
Expanding Wedge
Descending Wedge
Bullish Continuation Flag
Projection: Test Monthly double top and reject to the down side.
Uptrend in the
Corrective Phase (Descending Wedge)
Descending Channel
Double Bottom ( w/ Bullish divergence)
Morning star Entry Signal
Result: Price Reversals to the top of outer
structure;The Descending Wedge for beautiful Profit
Entry Criteria:
Risk Entry Top or Bottom of Structure
3 Touch Channel
1H Doji Reversal Candle(s)
Pro Tip: Always wait for the 1H close before setting an entry order a few pips below. Alternative is entering on a 15M rejection for a more precise entry.
