With a solid bearish divergence (RSI + MACD) forming the 3drives pattern, but also two different bearish harmonic patterns.
The Bearish Butterfly pattern (orange) at 127 extension from X to A, BUT with a point B rejecting the pullback to the 78% retracement for a few pips, (failed the criteria for point B, but not the final print, extension between the 127<>141 extension), also previous structure highs from 16 Aug 2017 rejecting to close above that previous higher close.
The Bearish Bat (red) is forged at 88% retracement from previous highs to most recent lower lows (retracement from X to A).
Stops should be positioned above all the structure with a maximum of 1:1 risk/reward for the 1st default target at 38% retracement.
Targets should be synced with the fib levels, by default the 38% and the 61.8% retracement and we can see they are also synced with previous structure.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.