1. Price was in a descending channel for a while
2. Price broke the channel with huge bullish momentum (1st impulse)
3. Newly created support was respected for a while
4. Price closed under support level briefly before closing back up (a fakeout)
5. Price did a bullish correction that was bigger than your typical correction
6. We took the BUY at the breakout of the correction
7. Target was the same length as 1st impulse e.g the flag pole length
8. Price hit our full TP (2nd impulse) after few days and then started going bearish
This setup was much complicated than QUIZ NO.1 and I did that on purpose.
Hopefully you learnt the WHY
