Direction: - Approached the last level of a Cycle, so M ( ) formation pattern (or similar pattern that holds and indicates a high) expected to appear before reversing into a Cycle.
Entry: - M ( ) formation pattern appeared.
- Second leg of M formation crossed the 13 , confirming the pair was going to drop.
- Divergence shown indicated a drop.
- value was above 68 which means the pair was overbought, so it was due to short.
- TDI MBL (Market Base Line) was above the 68 and pointing down, which also showed that price was possibly going to start dropping.
Exit: - 26 pip SL @ 7 pips above high
- 38 pip TP 1 @ just above 200
- 71 pip TP 2 @ just above YL (Yesterday's Low)