Another perfect ABCD formation has completed and I'm putting my order as soon as the market opens.
The latest top, with a huge wick on, before the market closed sat on the of the A leg which also was exactly on the 61.8 retracement of the down move from late October.
As you can see from , there is a big divergence between the higher highs in order to confirm the setup.
I have two orders:
A short term which has a tight stop right above the latest top
A long term which its stop sits on the latest Major High @ 0.89150
Choose your Profit Targets and Stop Losses yourselves, by calculating your risks and expected rewards.
Until next time,
Take care and have a profitable week ahead of you.