Recording my own idea for learning and testing purposes.
Price seems to stop at single point and can't go further anymore. Looking for triangle breakout. MACD and Stochastic divergence getting lower high's.
expecting quick bounce from this level, to 23.6
If broken below, possible strong move down
I would set up a buy limit at 61.8% (1.19359) with SL a 20 pips below and wait for a either break or a bounce
SL just above recent high
I would place SL just above 1.84624 resistance level. I know, this bat pattern looks kinda off, but it might work, and SL is very close + its a channel so i expect price to reverse at those levels.
I know this might look stupid "is it buy or sell", is this guy stupid? Not really, im here to to show you that: 1) If triangle BREAKS TOP with BIG CANDLE it might continue its swing moove upwards 2) If triandle line 1 and 2 BREAKS BOTTOM with ANY candle, we could see a moove down This is a moment of indecision and we could see a good move after formation breaks.
Going short, looking for price to go 106.3 / 106.1.