Price with this pair has began to range- the ideal market for harmonic patterns! Among the chaos, we have a bearish bat formation- expecting price to drop from around 1.12 to 1.06, a potential return of 600 pips! Stop loss just above the high prior to the X point but still keeping the 1:2 risk:reward!
Bat ratos AB: 0.382-0.5 BC: 0.382-0.886 CD: 1.618-2.618 XD: 0.886
I agree and I think we will likely hit 1.05 to 1.04 levels before we meet a 1.15 mark.
I also think we might even hit 1.05 levels before we hit $1.10+ on this trade. With all of the hype I think this trade is off level and way over bought.
I also think we might even hit 1.05 levels before we hit $1.10+ on this trade. With all of the hype I think this trade is off level and way over bought.