Depending on your broker's data, this pair is putting a double top on the H1 timeframe at previous structure :
- RSI oberbought on the first test
- RSI divergence on the retest
- price at previous structure and quite close to the top trendline of the wedge/pennant on the daily timeframe
- 1.414 fib extension
- 3 drives harmonic move
Aggressive traders would have shorted the pair on the previous candle, while conservative traders would wait for the current candle to give us a lower low lower close. Extremely conservative traders will wait for a 2618 setup (break to the downside than move up to the 618 retracement).
Both aggressives entries offers a really nice risk to reward ratio with either 1 or 2 targets at the 382 and 618 retracement, which both aligns with previous structure.
- RSI oberbought on the first test
- RSI divergence on the retest
- price at previous structure and quite close to the top trendline of the wedge/pennant on the daily timeframe
- 1.414 fib extension
- 3 drives harmonic move
Aggressive traders would have shorted the pair on the previous candle, while conservative traders would wait for the current candle to give us a lower low lower close. Extremely conservative traders will wait for a 2618 setup (break to the downside than move up to the 618 retracement).
Both aggressives entries offers a really nice risk to reward ratio with either 1 or 2 targets at the 382 and 618 retracement, which both aligns with previous structure.