Although, a first target from a giant Cypher pattern pullback has been achieved, I expect further decline on this pair before it runs above the Parity.
A potential Head&Shoulders pattern is forming which, if compelted, would bring the pair to 0.76 area. This would complete the leg B correction and start the leg C which should bring the pair above Parity.
Will short 0.86, targeting 0.76 to be achieved before the end of the year.
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We´ve spent last 17 days in a range from 0.85 to 0.83. Looks like the FED´s decision hasn´t been played on this pair. Let´s wait for tomorrow´s BOE.
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Right shoulder forming. Shorts will be placed very soon
Trade active
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Shorted 0.8570 on Friday, want to short more
Trade active
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After printing off a right shoulder, the price has finally started to move in the good direction. Looks like we will start with a Cypher pattern which will mean a bullish correction in the pair and that correction can be sold
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Probably, more bull coming. has to be followed carefully
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Time to sell
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Bullish Gartley has been confirmed and currently developing it´s targets as show on the chart. In my opinion, these are entry points for a long-term short position. Stop-Loss would be placed above 0.88
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It hasn´t even reached the 61.8 retracement before going down. Should find another entry point