Ascending Channel approaching previous High (double top). Wait for the reversal confirmation Ascending Channel has 3 touches (3rd one is developing now) Wait for 1h red candle confirmation or if the price breaks to the downside smaller ascending channel/corrective formation then go short. If the price significantly breaks previous high to the upside wait for the...
There is potential Short position developing for AUD/USD. Price created flag formation with 3 touches and ascending channel/wedge at the end of the 3rd touch-reversal signal. We need confirmation to go short in the form of smaller ascending channel or reversal candle formation: engulfing black, evening star etc back to the ascending channel and close it on 1 h...
Double Bottom, Descending Channel with Expanding Formation right at the previous low-long
This is for educational purposes as I'm still learning I'm waiting for the 3rd touch on the Ascending Channel. Ideally it would be a smaller corrective structure with 3 touches as well. Then go short. Stop loss around 35 pips. Target: beginning of the Ascending Channel. Will update soon.
Since last video price didn't create any higher high or lower low. Here is my update with 3 scenarios for a trade that may plays out This is where we are: Forecast 1: Forecast 2: Forecast 3: The last one may be extension of the red channel beyond yellow Ascending Channel but that doesn't create any entry for me just the continuation of the move up that's...