It is risky but it is a very nice R:R. The target zone is a confluence of a bullish shark completion, an AB=CD pattern completion, the 50% retracement of the larger bullish move, as well as an area with some previous structure as a cherry on top. I will definitely be interested in longing from this area should the opportunity present itself.
(Note: the shark pattern may extend all the way to the 2.24 so it is important to watch price action in the rectangle to determine when to switch sides)
(Note: the shark pattern may extend all the way to the 2.24 so it is important to watch price action in the rectangle to determine when to switch sides)
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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.