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Waiting on pattern to break after pair fall broke through few major levels (bearish). Currently retracing which id expect to finish at CZ (also fib level)
Just touching our bearish trend line, we have two double tops coming together to make a bigger double top. Trend line and the structure that we see here also coincide with historical support and resistance area, aswell as the round even number 0.9500 which price has yet failed to violate.
Above could very well be reason enough to see a bearish rotation where I ...
We have 8 failed attempts to close above 0.9400
First target - retest of previous low, second target 0.9320
Simple setup, sometimes we dont need more reasons to enter than a strong resistance.
A few clues here adding to this case:
Price clearly respected;
And it showed it respect by showing a double top (A) followed by a 2618 (X).
To our protection we have structure zone + fib + trend line (Z), all combining.
I entered my first position after double top.
Second position after 2618
Its a bold target, but price gives ...
Gartley completing within a price range that has previously been showing both support and resistance many times. Together with the structure we also have a bearish trend line to back up as resistance.
Target 0.382 fibo of A-D leg.
Lets see if we get filled
Falling trendline together with structure as resistance. SL above hiher falling trendline. Target just above previously broken support/bullish trendline