Confluences to Enter a Buy:
1. Falling Wedge Pattern
2. Breakout of Falling Wedge Pattern
3. Bullish Candle out of Consolidation & off of Psychological Level
4. Re-test of Wedge Pattern Trend-Line
5. Market Structure Break of 4hr timeline (LH taken out)
6. ABC Corrective Pattern Formation
7. Multiple Psychological Level bounces
Entry at 21.554, at the price of trend line retest
Stop Loss placed on other side of last psychological level and last LL
Take Profit set to next major psychological level
Timeline is approximately 1-2 weeks
3 to 1 Risk Reward
This would be considered a risk entry. For further confirmation, we should wait until price breaks ABC corrective pattern upper trend line with a re-test. SL should be placed at the termination of C-Wave
1. Falling Wedge Pattern
2. Breakout of Falling Wedge Pattern
3. Bullish Candle out of Consolidation & off of Psychological Level
4. Re-test of Wedge Pattern Trend-Line
5. Market Structure Break of 4hr timeline (LH taken out)
6. ABC Corrective Pattern Formation
7. Multiple Psychological Level bounces
Entry at 21.554, at the price of trend line retest
Stop Loss placed on other side of last psychological level and last LL
Take Profit set to next major psychological level
Timeline is approximately 1-2 weeks
3 to 1 Risk Reward
This would be considered a risk entry. For further confirmation, we should wait until price breaks ABC corrective pattern upper trend line with a re-test. SL should be placed at the termination of C-Wave