Hello, to understand this trade, you should first look on the Weekly time frame to see the overall trend. The trend is bearish and we have seen a nice CTL ( contertrendline) creating a Flag formation and a touch and rejection on the 38.2 of the overall movement. When you zoom in Daily, you can see that the pair has broken the CTL and has retested the resistance at 1.91200. There, we have had a reversal pattern and the trendline of the retest has been broken. Now we are on the final sprint before taking it! We just wait a pullback at 1.88300 before taking it after confirmations on H4. The final confirmation will be the break of the 1.8750 support.
This trade has a potential of 600 pips for the first tp at 1.8140. And then looking for a break but this will be in a couple of weeks or months.
Best setup from Eldiablo so far.
See you at the bottom
--Eldiablo1234--
This trade has a potential of 600 pips for the first tp at 1.8140. And then looking for a break but this will be in a couple of weeks or months.
Best setup from Eldiablo so far.
See you at the bottom
--Eldiablo1234--