Falling like a Brick

The price formulated small expanding triangle pattern, where AB=CD. A breakout will further drop to the next support level.

Regards,
TheForexFarmers

Trade active:

The trade hit the top of the parallel channel last night and almost hit our stop loss. However, the pair is currently touching the trendline. A break out will show a further in price.

Trade Safely!
TheForexFarmers

Trade active:

We still holding our positions as the trade running in profit. It can be seen that the price is attempting to break the parallel channel. Upon success, the price will nicely dive to our TP.

Trade Safely!
TheForexFarmers
-John

Comment:

The pair finally broke the parallel channel, heading further down. A retest could happen, this could be another entry.

Trade Safely!
TheForexFarmers
-Alex

Comment:

We saw a big downslide during NY session, which played according to our analysis. We closed 75% of the trade and left 25% running in profit. The pair still didn't complete the AB=CD pattern, a further slide to the downside is on the card.

Trade Safely!
TheForexFarmers
-Alex

Trade closed: target reached:

The trade hit TP, 149 pips profit.

Trade Safely!
TheForexFarmers
-Alex