Confluences:
- Double top reversal pattern
- Fibonacci retracement zone of 31.8%
- Retest of the retracement zone before a bearish move
I am bearish on this pair because of the reasons stated above, I do believe that the pair may go way beyond my take profit level so if you do decide to use it, then it would be fair to do so. However, I am taking the more conservative approach and I'm only aiming for a 1:2RR
- Double top reversal pattern
- Fibonacci retracement zone of 31.8%
- Retest of the retracement zone before a bearish move
I am bearish on this pair because of the reasons stated above, I do believe that the pair may go way beyond my take profit level so if you do decide to use it, then it would be fair to do so. However, I am taking the more conservative approach and I'm only aiming for a 1:2RR