Getting to the present time (this is on 4hr)
Price rose to (x) then dropped to (a) and I drew in S/R line 1
Price then rose to (b) and stopped as there was previous resistance there and then dropped towards (c) and I drew R line 2
When price got to (c) it provided potential for a long trade though you would have to go to a lower time frame to get the entry and place a stop just under line 1.Aiming to take profit/move up stop when price approaches line 2.
Price broke line 2 and stopped at resistance level as (x)at (d). If still in the trade you could possibly move up stop to around (b) level.{Hindsight trading is so easy}
Anyway price dropped toward line 1 and I re-drew line 2 as line 3 {parallel to 1}.I drew in line 4 at this time as it was around the middle of the channel/bull flag.
Price bounced off line 1 found resistance at line 3 then found support on line 4 at (e).This making me look for a long when price broke line 3
Price rose to (x) then dropped to (a) and I drew in S/R line 1
Price then rose to (b) and stopped as there was previous resistance there and then dropped towards (c) and I drew R line 2
When price got to (c) it provided potential for a long trade though you would have to go to a lower time frame to get the entry and place a stop just under line 1.Aiming to take profit/move up stop when price approaches line 2.
Price broke line 2 and stopped at resistance level as (x)at (d). If still in the trade you could possibly move up stop to around (b) level.{Hindsight trading is so easy}
Anyway price dropped toward line 1 and I re-drew line 2 as line 3 {parallel to 1}.I drew in line 4 at this time as it was around the middle of the channel/bull flag.
Price bounced off line 1 found resistance at line 3 then found support on line 4 at (e).This making me look for a long when price broke line 3
The greatest enemy of a good plan is the dream of a perfect plan.