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1.8400 is next.
4:1 risk reward ratio.
Will be selling to the bottom of the wedge structure.
TP - 1 At 150.
TP2 - for 500 pips.
Price to complete move to the downside before heading for monthly resistance.
Wait for breakout.
Wait for break of flag
Nice setup to catch on the smaller timeframe.
Wait for clear breakout .
Follow the trend up.
Wait for clear breakout on the 4 Hour.
Trade length from neckline to head.
Headed to the 1200 Major Key Level.
Short term bearish move with good risk reward.
Head and shoulders reversal pattern.
Wait for breakout and retest on a lower time frame.
3:1 Risk Reward
Please leave feedback on this idea.
Constructive criticism would really be appreciated.
The pair seems to have formed a downtrend channel and I am trading the Fibonacci cycle to the 1.618 Fibonacci Extension Level.
Reward Risk Ratio 6:1