The uptrend has broken, and a Crown Reversal Formation appears to be forming. I'm looking for this to go long to retest the backside of the trendline. In this case I will take the probability of the pair running to the previous resistance. My entry will occur after the counter trendline i've drawn has been broken, and closed above. My stop will be set 10-15 pips below the low, and my TP will be The previous resistance(appx. 5:1 RR)
After all this; I will be looking to short this pair with counter trendline breaks all the way down to a 1.618 extension that I've come to off the daily time frame.
First publish, lets see how it goes!
After all this; I will be looking to short this pair with counter trendline breaks all the way down to a 1.618 extension that I've come to off the daily time frame.
First publish, lets see how it goes!