Following my previous post outlining the downside potential this is the upside potential, which is an AB=CD pattern completion. This direction is favoured but requires a few confirmations such as the clean break we are currently experiencing.
A close on the 1HR TF above the Descending Channel and previous Neckline Resistance will warrant a long trade to D extension.
Trading is about laying out both scenarios and still having complete faith in the uncertain outcome of your idea.
When you find confluence trade with confidence ;)
Just look for confluences and TradeEm'
Good Luck.
A close on the 1HR TF above the Descending Channel and previous Neckline Resistance will warrant a long trade to D extension.
Trading is about laying out both scenarios and still having complete faith in the uncertain outcome of your idea.
When you find confluence trade with confidence ;)
Just look for confluences and TradeEm'
Good Luck.
