1.There is a cup and handle pattern( I don't rely so much on harmonic patterns or any kind of pattern,but it's happened here so obvious)
2. Prices touched resistance area successfully and couldn't go higher.
3.There is a lower high and lower low.
4.One of the bullish trend line is broken,and prices act on it as resistance(It makes so much better odd s to go short)
5.Higher timeframes are down trend.
6.Prices retraced the movement back to 61.8 Fibo level, and they make higher lows and lower lows.
7.It has a great Risk/Reward ratio :-D
SL : 11 pips
TP :76 pips
Better Entry is if prices go higher and touches again the bearish trendline.
Reversal Exit:
If prices go low as 1.0000 and then there wasn't any buildup, we should exit on break of bearish trendline
2. Prices touched resistance area successfully and couldn't go higher.
3.There is a lower high and lower low.
4.One of the bullish trend line is broken,and prices act on it as resistance(It makes so much better odd s to go short)
5.Higher timeframes are down trend.
6.Prices retraced the movement back to 61.8 Fibo level, and they make higher lows and lower lows.
7.It has a great Risk/Reward ratio :-D
SL : 11 pips
TP :76 pips
Better Entry is if prices go higher and touches again the bearish trendline.
Reversal Exit:
If prices go low as 1.0000 and then there wasn't any buildup, we should exit on break of bearish trendline
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