fx1

fx1

1. The trade will be to sell and in the direction of the downtrend. 2. Lots of noise in the area left of X & its in the same zone where I am expecting the pattern to complete @ D. X2C Fib Retracement of .786 @ 0.72514 B2A Fib Retracement of 1.272 @ 0.72435 But planning to enter @ X2C fR of .886 @ 0.72603 to get a better Risk to Reward Ratio but in choosing so I...

fx1

X2A Fib Retracement of .786 @ 1180.80 B2A Fib Retracement of 1.272 @ 1180.30

fx1

X2A Fib Retracement of .786 @ 89.847 B2A Fib Retracement of 1.272 @ 89.783

fx1

X2C Fib Retracement of .786 @ 1.47717 B2A Fib Retracement of 1.272 @ 1.47705 But planning to enter @ X2C fR of .886 @ 1.47626 to get a better Risk to Reward Ratio

fx1

X2A Fib Retracement of .786 @ 1.08156 B2A Fib Retracement of 1.272 @ 1.0853 For Take Profit I have not included the spread which should be accounted for, or else price may miss the TP target

fx1

Expecting the price to retest the zone of X and around the same zone begin completion of pattern at D.

fx1

Zone around X has been tested twice before to the left of X & acted as resistance. Therefore, expecting that the price will come to test the same zone of X @ 131.408 where I expect to short or my point of entry 131.408 of X is as per my broker.

fx1

Cant find a case for entry as I cant see any support or resistance in the same zone to the left of the D. Will see how it goes

fx1

Pattern invalid as AB Fib Retracement doesnt give C @ .618.

fx1

Areas of support to the left.

fx1

TEST

fx1

TEST

fx1

Areas of support and resistance around X and to its left. So good case of entry to short @ D around the same zone.

fx1

Test