bullish flag pattern in rising channel

29. Jan. 2019

hey traders,

on pound yen we see a steady bullish movement in a rising parallel channel.
after the market approached 145.0 level, we see a retracement to 143.5 level and formation of a bullish flag.
Bullish violation of this local pattern gives us a nice entry for trend continuation trade.

The initial target is based on the market higher high (a bit lower than 145)
The second target is based on structure and bit lower than 146.

stop around 143

good luck!

29. Jan. 2019

Anmerkung

double bottom

30. Jan. 2019

Anmerkung

bearish violation of the channel