Morning traders!
1D Chart
Here is a great longterm setup with possibly multiple positions that can be taken here.
Currently we an " ADVANCED PATTERN FORMATION" with great support and resistance confluence
I built the "ADVANCED PATTERN FORMATION" on a Daily chart .
My tolerance for risk is high as the pattern has not only completed and valid but is in play.
There are pattern formations inside of pattern formations. Depending on your skill, understanding confluence as a trader becomes more and more important.
Note: I'm not to concerned about my entry as my stops will be above previous structure high.
1D Chart
Here is a great longterm setup with possibly multiple positions that can be taken here.
Currently we an " ADVANCED PATTERN FORMATION" with great support and resistance confluence
I built the "ADVANCED PATTERN FORMATION" on a Daily chart .
My tolerance for risk is high as the pattern has not only completed and valid but is in play.
There are pattern formations inside of pattern formations. Depending on your skill, understanding confluence as a trader becomes more and more important.
Note: I'm not to concerned about my entry as my stops will be above previous structure high.