Hello and welcome to my analysis :)
Here we have a long-term bearish pennant formation.This has been forming for about 47 days now and will probably keep
going for the next few days before its breakout. We will be looking for the breakout around the tip of the formation.
I can see this trade going easily 300 pips or even to the full 500 pips.
My SL will have some wiggle room but be conservative with it in case the formation fails, remember we are looking for
strong bearish movement so if we getting bullish candles at the tip of the pennant be very cautious.
Thank you for viewing!
Here we have a long-term bearish pennant formation.This has been forming for about 47 days now and will probably keep
going for the next few days before its breakout. We will be looking for the breakout around the tip of the formation.
I can see this trade going easily 300 pips or even to the full 500 pips.
My SL will have some wiggle room but be conservative with it in case the formation fails, remember we are looking for
strong bearish movement so if we getting bullish candles at the tip of the pennant be very cautious.
Thank you for viewing!