Triangle broken...
Updated
=> The ABCDE triangle has been in play since we bounced in 2015 and has now broken.
=> Remember these are levels that have been tested multiple times over the last 3 years and the break should therefore be viewed as imperative.
=> From a technical perspective the market has support at 1.048-1.047 and although this may trigger a period of consolidation as the volatility compresses it should be used as a opportunity to re-engage in further downside exposure.
=> This has the potential to as low as parity with a minimum flow towards the cycle lows. A very interesting one to track for 2019.
=> Best of luck to those looking for positions or already holding shorts...
=> Remember these are levels that have been tested multiple times over the last 3 years and the break should therefore be viewed as imperative.
=> From a technical perspective the market has support at 1.048-1.047 and although this may trigger a period of consolidation as the volatility compresses it should be used as a opportunity to re-engage in further downside exposure.
=> This has the potential to as low as parity with a minimum flow towards the cycle lows. A very interesting one to track for 2019.
=> Best of luck to those looking for positions or already holding shorts...
Trade closed: target reached
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