Hi all,
Nice short opportunity for some pips on the hourly, the reason why I put a conservative target is because I am expecting some solid support, the risk reward here is still very nice !
Theres also a crab pattern on the chart, as I did not spot it myself here is a link to the guy that did:
Goodluck trading :)
Almost the same structure as the AUDJPY (link below) price has broken above the consolidation it was moving and is now heading towards the median line of an upsloping set. At that level we will have the completion of a bearish cypher pattern which in case it works out, we should have a priece drop most likely at the lower parallel of the pitchfork. At that level...
A double top formation and an bearish AB=CD pattern pushed price to the down after their completion. We see now that it's an a corrective mode heading to the slide parallel of a downslope median line. A retest of the parallel will be our entry point with stoploss and tp as shown at the chart
Like and comments are welcome.. Follow for updates..!
