With the 4 hour trend breaking through I am looking for an opportunity to short the pair down to a full fib extension, dropping down to the 15 minute chart it looks as though the pair is struggling to reach higher.
Potential of an equal measured move to put price back to my kill zone around previous support.
If entry requirements are met I shall short the pair with;
stop loss: 0.98400
take profit: 0.97
Any comments or questions don't be afraid to ask:)
Potential of an equal measured move to put price back to my kill zone around previous support.
If entry requirements are met I shall short the pair with;
stop loss: 0.98400
take profit: 0.97
Any comments or questions don't be afraid to ask:)
Trade active
Note
Head and shoulders formed on the 5 minute chart with RSI divergence, currently at the neckline so if this breaks expect a move to the downsideNote
Unfortunately this trade doesn't look like it will come our way
HOWEVER!
a very nice flag pattern has formed within my rules,
so I am keeping this trade open but will close the position around where I am looking for an entry to go long for the flag pattern!
I shall update later today
Note
Also it could be the forming of the left shoulder to complete an inverted H&S :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.