EUR recent spike up has failed to break and close above the previous high level at 1.20700. in doing so has put in a Valid Bearish Gartley Pattern. it has surpassed the traditional D leg completion level (was holding a long position hence why I did not take the trade at that level)
I am treating this as a reversal trade due to the euro testing a higher time frame...
Currently short EURGBP Due to price action retracing and forming a double top reversal pattern.
looking to take 2 targets
Target 1 will be a retest of the lows at 0.91200
Target 2 will be a push down to the 1.27 ext level at 0.90900
Since Euros recent slow spike to the upside we currently have a retracement in place. price action has been pushing down to a previous structure around 1.19200 zone. In doing so has formed a a Gartley Pattern
Looking to take 2 targets for this one
Target 1 - 1.19258 (38.2 Retracement)
Target 2 - 1.19350 (61.8 Retracement)
Price Action has created a new Lower Low increasing further to the down side. Now we have seen a relief move where price action has retraced back up to a previous support level looking left (around 0.72280)
We also have a Fib confluence level (618) and a oversold signal on the RSI.
Will be taking 2 positions
Target 1 0.71400 retest of the lows (And even handed...
Have A Valid Bat Setup formed which looks like a strong play!
1. D Leg completion at a structure level
2 . RSI Overbought
3. Fb Confluence Area on a higher time-frame
1st Target is at 141.467 (just past 38.2 retrace at a support lvl
2nd target is at 140.705
Price action has confirmed its bearish rotation by breaking through the previous support around 145.280 and closing below. Price action is now creating a Lower high and in doing so has created a bearish Cypher pattern.
I am currently short with 2 positions targets.
Target 1 145.251 (61.8 PIPS)
Target 2 144.783 (108.5 PIPS)
Potential total trade winnings...
from price action recent big move to the downside it has pulled back into structure. in doing so has formed a bearish gartley formation.
I am already live holding 2 positions. Entry was at 1.30156
stopps at 1.30347
1st Target 1.29862
2nd Target 1.29658
Since price actions spike up! we have seen strength in the dollar! my bias on this pair is currently bearish due to price action pulling back into previous structure (with fib confluence in the same area) and having a instant reaction once in that zone.
i predict price will drop down to the 1.28100 level (previous resistance now acting as support) BUT WE SHALL SEE
Since price actions aggressive bullish move to the upside, we now see a relief move as buyers take off profit! price action has started to retrace and in doing so has formed a valid Gartley pattern!
If price action decides to make its way down to the D Completion (1.29223) there will be a limit order waiting for him!
Target 1 will be 1.29634
Target 2 will be...
Since Euro's recent bullish move up price action has started to retrace (as buyers take off profits) price has formed a cypher pattern.
The D leg completion at 1.13866 is in a previous structure zone which is a very strong case for entry.
looking to take 2 targets for this trade
Target 1 is at 1.14049
Target 2 is at 1.14163
lets see how it pans out
Price action is in the process of possibly forming a bullish Cypher pattern at a previous support level .
Looking for the D Leg Completion at 1.31957
And taking 3 Targets
Target 1 1.32390
Target 2 1.32653
Target 3 1.33865