This is a perfect high-probability structure-based trade. Price action and some filters confirm this prediction: 1. Price is at a major level of structure (0.9600-0.9650) 2. Equal measured moves (AB=CD) 3. RSI is massively OS 4. There are some impressive Fibonacci confluence. The idea is to wait for confirmation like a DB/reversal candle on the zone. Plan...
Watching for a validation of this DB to get involved at the break of the neckline and aim for targets at the 61.8 retrace of previous swing. Plan your trade, trade your plan!
Plan your trade, Trade your plan. waiting for a complete break of the neckline, then wait for a pullback to get involved.
Check
A High Probability Structure-Based Trade The following are the clues that inform my conservative entry. 1. Price action has reached at key level of structure (indicated by the rectangular blue zone). 2. An AB=CD pattern 3. AB Fibonacci extension of 1.618 4. RSI is OB on this time frame 5. Loss of momentum (the body of two candles are quite...
Details on the Chart for stops and targets
Details on the chart for stops and targets. Enjoy your weekend.