Price is at a KL area and has formed a falling wedge pattern which is suggestive of reversal soon. Will wait for the 1st correction and then enter LONG (this is confirm my bias of LONG as valid and act as an added confluence)
The 2 corrections are: Forming a hover below the TL or above the channel
I had mentioned in the forecaste description to look for entries only at the "hover below the TL or above the channel" (As depicted by the blue sketch that is drawn)
You seem to have entered early on as there is no clear pattern (Hover that has formed.)
Minimum candles of 6-8hr is ideal for formation of a hover or bull flag.
Please Keep risk management as most important factor.
Maximum SL should be around 30-40 pips.
Our bias of LONG trade still remains valid, but we dont know when it will likely occur as this is a probability model.
Only thing we know is price is will be bullish soon.
sureshkanth
⋅
@jetly232, hi sir, thank you for your kind reply, and I will follow the risk management in future trades, is there any sites or online study regards learning the chart patterns...? If it is there please kindly share into my email, it will be really help me out lot in my future trades,