I came across this set up while showcasing reversal patterns with new traders.
There are just TOO MANY signs to ignore!
This is the perfect set up in many ways... especially for educational purposes!
Let's see how this plays out!
All trade ideas shared are for educational purposes only.
You've got this!
We have seen a nice bearish setup buliding on this pair on the daily time frame as well as smaller time frame. We may see a temporary retracement upwards before pushing down. I have placed the sell order accordingly and marked the tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
After refreshing our chart on this pair it still seems likely for a potential long term short position. Third touch on this resisting trendline should be enough to force a harsh rejection down to complete the overall trading range/ structure
We're at the HTF double top and are looking for;
1) An ascending channel at the double top.
2) A drop from the double top and the formation of a hover at the structure low.
3) An ascending channel at the structure high for the completion of the pattern (this is most high probability setup).