Take a look at 15 Min-Chart Structure:
– There are lower lows, lower highs
– Price has created a double bottoms at 1285
– There is a mini uptrend from 1285
The double bottoms reversal pattern has a target at 1294-1295.
We look left for resistance at 1294-1295, which is a sell level.
We look left for support at 1286-1288, which is a buy level (take-profit).
We set stop loss above recent high at 1297. If price exceeds 1297, it will create a higher high so our assumption will be invalid.
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