Hi guys,
after getting stopped out on this pair not long ago, i'm back here because my analysis finally became true. Indeed, we saw a reversal of the trend starting at 1,6680. This change of trend is signaled by a sequence of lower lows lower closes that broke the main support at 1,64. At this point, i know my bias is confirmed by price action and i'm willing to take this short if price will give me a comfortable place for getting involved: right now, i'm looking at the yellow box to see whether price will create a small double top or not. If it will, i'm going to pay attention to candlestick patterns to take a short from there, looking for targets as shown above.
I'll update you.
If you want to share your vew/ideas, feel free to write below.
Otherwise, see you in the next chart!
after getting stopped out on this pair not long ago, i'm back here because my analysis finally became true. Indeed, we saw a reversal of the trend starting at 1,6680. This change of trend is signaled by a sequence of lower lows lower closes that broke the main support at 1,64. At this point, i know my bias is confirmed by price action and i'm willing to take this short if price will give me a comfortable place for getting involved: right now, i'm looking at the yellow box to see whether price will create a small double top or not. If it will, i'm going to pay attention to candlestick patterns to take a short from there, looking for targets as shown above.
I'll update you.
If you want to share your vew/ideas, feel free to write below.
Otherwise, see you in the next chart!
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Stop moved to breakeven (we got 90% of the target).