Hello Traders.
It looks like a weekly corrective structure is in the making. To completion of this correction it needs to go down. Selling after breakout can be very good trade. We have also a completed Gartley pattern and the target for drop will be 1.36500
It looks like a weekly corrective structure is in the making. To completion of this correction it needs to go down. Selling after breakout can be very good trade. We have also a completed Gartley pattern and the target for drop will be 1.36500
Comment:
You can find detailed video analysis in Twitter. The link is in profile page.
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First trade stopped out with break even and now there is another chance for short trade. Structure is still same. Selling after breakout looks like a good idea. I have an entry order at 1.56500 with 1.56900 stoploss.
Comment:
The structure between aqua lines looks like an expanding flat. If this is the case, it will go up one more time. Still, I believe that it wont break previous top, but trade is riskier now.
Trade closed: stop reached