We have had 2 successful breakouts in this most recent run
And the third formed a local top
We can see this has formed a bear flag, which the downward move was 40% into it
And a 40% move down would put us at the very strong S/R of 0.40
Numbers seem all too confluent to be true
However, if we leave this flag I would expect a similar move, maybe it gets supports at 0.46ish though proving very strong on the recent dip
TP targets should be relatively close due to volatility and high fundamental support so the market could switch, get that SL to break even ASAP!!!
Wait for break down, then move back towards bottom trendline of bear flag to enter!
And the third formed a local top
We can see this has formed a bear flag, which the downward move was 40% into it
And a 40% move down would put us at the very strong S/R of 0.40
Numbers seem all too confluent to be true
However, if we leave this flag I would expect a similar move, maybe it gets supports at 0.46ish though proving very strong on the recent dip
TP targets should be relatively close due to volatility and high fundamental support so the market could switch, get that SL to break even ASAP!!!
Wait for break down, then move back towards bottom trendline of bear flag to enter!