Hello.
I see 2 harmonic patterns in convergence here, a butterfly and an A bat.
I guess the pair will make a reversal candlestick pattern here in 4h 8h or even daily time frame, preparing for a bullish move for the specified targets; but my main target is 1.1500.
remember! If the corrective move reacts at the 1st or 2nd target and bounces back then It means the bearish movement is strong and with a high chance of probability, it will break the support area.
My trading suggestion is long positioning with a stop loss level below 1.13500
I see 2 harmonic patterns in convergence here, a butterfly and an A bat.
I guess the pair will make a reversal candlestick pattern here in 4h 8h or even daily time frame, preparing for a bullish move for the specified targets; but my main target is 1.1500.
remember! If the corrective move reacts at the 1st or 2nd target and bounces back then It means the bearish movement is strong and with a high chance of probability, it will break the support area.
My trading suggestion is long positioning with a stop loss level below 1.13500
Trade closed: stop reached:
On this analysis. I failed and I don't know the fundamental cause of this and I don't understand the market's behavior here.
I'll step out for a phew days to figure it out.
I'll step out for a phew days to figure it out.
