After a series of lower highs and lower lows; IF the downtrend continues the most recent lower high should not be taken out. I'm looking for an entry signal to get short on this level with low risk.
Good opportunity to hop on the underlying trend.
AB=CD pattern fib. confluance Structure looking left. Higher timeframe down trend
Medium size pattern, but potentially very long term because of the ATR of this pair. 2nd targets around 103's
Little late, but a nice setup for a short entry with higher timeframe trend.
Already completed. Second chance entry possible as long as T1 is not hit.
After the Bat pattern completion that rolled over for at least T1, a large wedge is forming at the moment. It's going to break out, the question is, in what direction? If we take the last move up and measure out a potential AB=CD pattern, we end up around $800. If it's going to break down, It's likely we will get a retest of the low structure level of the wedge...
A big daily bull pennant setting up. (Red lines) If we project a 1 to 1 measured move of the last bull move, this would bring us to 830-860.