ilmscore | Prediction Details
"unfortunately our live example trade that I was going to use for this video has already hit targets here on the euro dollar as you can see so it's not necessarily going to be a lob trade but we will still break down the analysis behind this trading opportunity here on the dollar yen excuse me here on the euro dollar I'm gonna go ahead and actually delete my buy stop order here which was going to be our stop loss let's scroll the chart up a bit and let's talk about why we were interested in entering this descending wedge pattern right let's break this chart down in a sense to the point that you'll understand why we wanted to enter this specifically here on the euro dollar well the reason is pretty simple guys it's exactly like what we've been talking about during this entire video we have a downtrend right we know that because we have a one to three move at least a downtrend considering what we talked the beginning of the video so we have one two is the pullback right here three is that next impulsive move after that we have three support levels we have one here two and the third one was here we also have one resistance level followed by a smaller resistance level or a lower resistance level excuse me followed by a third test so this third test here is where we decided to go ahead and enter the trait we opened a position here on this third test our stop loss went 180 our above the second swing level and our target was right here around one point one six three one and the reason for that is because that was the next level of major structure if i zoom the chart out looking left you can see right here and it's also tested in through here here and here so we have four tests here of this level that's why we chose to take targets at this level here on the one-hour chart and as you can see this chart downtrend followed by descending wedge pattern like what we've talked about in the video followed by a continuation of that trend that's exactly what we're looking for using these types of patterns"
By The Trading Channel (The Trading Channel) | July 13, 2018 | Pending
From video
The ULTIMATE beginners guide To Breakout PATTERN Trading 00:15:54 - 00:17:42
Interpreted Prediction
Analyzed a previous Euro Dollar trade that successfully hit targets, based on a descending wedge pattern within a downtrend, with specific entry, stop-loss, and target levels determined by chart structure.

Prediction Details

Ticker
EURUSD

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