This is just something I want to share how you can analysis 1 chart with different scenarios
DO have a look
From where price is at
1. The ABCED triangle pattern where we enter at E
2. The flag pattern is forming
3. Market Structure shows a bullish pattern (Numbers 1 & 2 Above Patterns)
4. We see and inverse Head and Shoulders where right shoulder is forming
5. Breakout traders can wait for price to break the upper channel line
6. Price can continue down to form a DOUBLE BOTTOM cancelling out our previous setups Numbers 1-5
Note 3 possible Buy/Long setups on the chart the first high can be TP target but once price goes higher into profit we secure the trade and let her run. Stops can also be trailed.
Always wait for confirmation before entering. If the ABCDE pattern fails thats what the SL is there for incase price wants to form the double bottom.
Note I have not work out a calculated PIP for SL this is just an example for analysis for different buy/long trade.
DO have a look
From where price is at
1. The ABCED triangle pattern where we enter at E
2. The flag pattern is forming
3. Market Structure shows a bullish pattern (Numbers 1 & 2 Above Patterns)
4. We see and inverse Head and Shoulders where right shoulder is forming
5. Breakout traders can wait for price to break the upper channel line
6. Price can continue down to form a DOUBLE BOTTOM cancelling out our previous setups Numbers 1-5
Note 3 possible Buy/Long setups on the chart the first high can be TP target but once price goes higher into profit we secure the trade and let her run. Stops can also be trailed.
Always wait for confirmation before entering. If the ABCDE pattern fails thats what the SL is there for incase price wants to form the double bottom.
Note I have not work out a calculated PIP for SL this is just an example for analysis for different buy/long trade.