Retesting Previous High, Potential Shorting Opportunity
We've identified a potential opportunity for counter-trend traders in the form of a Bearish Fib-3 Bat Pattern completion on the Weekly Chart. This could be a great chance for traders to engage in the trade and make a profit.
However, we understand that the initial stop may be too large for some traders to handle. That's why we suggest waiting for the setup to form on the lower time-frame, such as the 1-hourly chart, for a shorting opportunity. You could wait for a retest at 149.44 for a shorting opportunity. The initial Stop-Loss at 149.74 (-30pips) or approx. -300usd/lot.
Target1 could be at 148.76 (+68pips) or approx. +680usd/lot. But keep in mind that it's always important to plan your trade and not follow any trader blindly. We encourage you to have a solid plan in place before making any trades.
However, we understand that the initial stop may be too large for some traders to handle. That's why we suggest waiting for the setup to form on the lower time-frame, such as the 1-hourly chart, for a shorting opportunity. You could wait for a retest at 149.44 for a shorting opportunity. The initial Stop-Loss at 149.74 (-30pips) or approx. -300usd/lot.
Target1 could be at 148.76 (+68pips) or approx. +680usd/lot. But keep in mind that it's always important to plan your trade and not follow any trader blindly. We encourage you to have a solid plan in place before making any trades.
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Live session & Trading Tips on the GO
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