FLM has been showing us a series of double bottoms and double tops.
We are currently at the bigger double bottom and we could see a breakout very soon. Ideally we'd want to see one last drop to complete the lower timeframe double bottom before moving higher. However if we don't, we can just get in with stops below the double bottom.
Trade idea:
- Watch for a breakout and enter with stops below the double bottom
- If we make one more drop down, watch for bullish price action ad the double bottom area and then enter with stops below the lows
- Targets: 0.78 - 1 - actively manage the rest
What do you guys think?
We are currently at the bigger double bottom and we could see a breakout very soon. Ideally we'd want to see one last drop to complete the lower timeframe double bottom before moving higher. However if we don't, we can just get in with stops below the double bottom.
Trade idea:
- Watch for a breakout and enter with stops below the double bottom
- If we make one more drop down, watch for bullish price action ad the double bottom area and then enter with stops below the lows
- Targets: 0.78 - 1 - actively manage the rest
What do you guys think?
