Context
Notice that I used the word "indication", and not indicator. By using solely structures and forecasts to keep ahead of the market, these are especially important. Flags. Channels. Wedges. In this scenario, it can be seen that there is a strong impulse from the upside after creating the second touch, and coming down for the third touch on the bottom of the structure. However, we know not of the market movement, whether or not will it rise or fall. And so, waiting for an indication such as a bull flag or descending channel would be the wisest action to take.
General Consensus
Wait for an indication. Sell if there's a bear flag, buy if there is a descending channel.
Steps To Take
Notice that I used the word "indication", and not indicator. By using solely structures and forecasts to keep ahead of the market, these are especially important. Flags. Channels. Wedges. In this scenario, it can be seen that there is a strong impulse from the upside after creating the second touch, and coming down for the third touch on the bottom of the structure. However, we know not of the market movement, whether or not will it rise or fall. And so, waiting for an indication such as a bull flag or descending channel would be the wisest action to take.
General Consensus
Wait for an indication. Sell if there's a bear flag, buy if there is a descending channel.
Steps To Take
- Wait out the impulse
- Wait for a bear flag or descending channel
- Sell the pair