Price is currently in a range at the top of an uptrend.
Price has also created a double top pattern.
As we are aware price moves as follows;
Impulse-> Correction-> Continuation
Price is currently in the correction phase of the market, and I am assuming price will reach point 5 of the correction and then drop.
My stop loss will be above the previous highs and my take profit at approx the start of the correction.
Price has also created a double top pattern.
As we are aware price moves as follows;
Impulse-> Correction-> Continuation
Price is currently in the correction phase of the market, and I am assuming price will reach point 5 of the correction and then drop.
My stop loss will be above the previous highs and my take profit at approx the start of the correction.