We have a high probability gartley pattern potentially forming on the 4 hour timeframe on this pair.
Firstly, this is a counter-trend trade so slightly risky. We however have AB=CD confluence as well as a key support area where price may reject. If we can come down to our PRZ and take profits at target 2, then there is great resistance confluence around this level of 101.31. We also have fib extension and retracement confluence where 1.272 and 0.786 line up. Lastly, if we can see some oversold RSI conditions this will give us another confirmation to enter long.
Targets at 0.382 and 0.618.
Firstly, this is a counter-trend trade so slightly risky. We however have AB=CD confluence as well as a key support area where price may reject. If we can come down to our PRZ and take profits at target 2, then there is great resistance confluence around this level of 101.31. We also have fib extension and retracement confluence where 1.272 and 0.786 line up. Lastly, if we can see some oversold RSI conditions this will give us another confirmation to enter long.
Targets at 0.382 and 0.618.
