long story short, i'm going to buy the euro if the actual candle will close engulfing. Price is up against a former daily structure level and the Rsi is showing us an oversold condition, right at the 618 fibonacci level.
Stops below the lows, target1 at roughly 1,25:1 RR, target2 at the retest of the highs.
I'll keep you updated.
If you have any...
today i want to share a setup which is available at market right now. In this situation price si coming back to retest a daily structure zone (blue rectangle) after a double top formation that's been broken to the downside, as a confirmation signal of the direction it's headed.
You can short the market now according to the 2618 technique, with stops...
after banking some pips over the night on the AUDCAD trade (see attachment) i want to share with you a 2618 trade that's forming on EURUSD.
For those of you who aren't familiar with this formation it basically consists on selling/buying the .618 retracement of the leg that breaks the double top/bottom's neckline. You can see the visual illustration...