Trading_Jazz
Short

(4h) Reached the 2618 targets @ Confluence & Overbought

FX:EURGBP   Euro / British Pound
FX:EURGBP            

1. Double bottom ;
2.Broken neck;
3.Found resistance;
4.Pullback into the 618 fib; (the 2618 trade setup completed)
5.A rally above the 141 ext;

First target for the 2618 at 127% extension or an ab=cd pattern projection;
Second target above, at 161%, and there, we have confluence between fibs, retracement, and extensions, and the price is already testing the previous structure (blue box at left, previous highs);

One advanced pattern to be forged at a reversal point (the 78%) is what i am expecting, to then engage the trade, with the same targets as always, the 38 and the 618 fib retracements.


Safe Trades;
Trade active:
Comment:
Comment: Adjusted fibs, STOPS and targets based on most recent price action and structure...

Comment: Stops adjusted into a 1:1 r/r at "NEW" 1st target level
Comment: and the so welcome candle chart :)

Trade closed: stop reached
Very nice work - Brilliant analysis
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@Trading_Jazz Thank you for sharing
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