nzdjpy sell bias on fleek

2021年5月12日

so im a technical. now the reason i felt a sell was coming is that , the market had broken its most recent high, but i had to consider how price action arrived at that resistance (colour purple rectangle area) before breaking, now as yall can see it was consolidationg upwards(1) and creacted a rising channel as it broke resistance, to me that signalled that a possible sell was coming, adding to this confluence was when price action created a double top(2) as it couldnt break its most recent high which was also a third touch on the upper trend line.it then broke back under the ressistance with an impulsive red candle.
came back and created a bearish continiuation pattern (3) then broke the lower trend line impulsivly , now all this structure forming requires real patience.
after the contiuation to the downside it then relaxed at the lower trendline of the bigger structure. in order to determine whether t will break or not we wait for the market to form either a contiuation pattern or a reversal pattern. remember thers veriations to these patterns. in this case it formed a bearish continuation flag and broke it impulsively, automatically same time breaking the lower trend line of the big structure. as you can see we are still at support where the first consolidation began. im hoping for a break to the downside but. ill have to check lowertimeframes to confirm that. please comment if you gotta. feedback will do me right.