JesusDiaz
Short

EURGBP Short side

FX:EURGBP   Euro Fx/British Pound
72 2 1
**WT +90 Pips** Republishing a trade that has been buried in the pile.
I always thought that a pattern becomes invalid when it has traded below C
and Especially below X. So, my question is . . .
Did this work because of the pattern set up or because of the
resistance that was created in previous price action ???
Anyone's thoughts ???
(I like to be cautious that i do not make a winning trade
for the wrong reasons as that will only lead to disaster
somewhere down the road)
Reply
JesusDiaz dojitrader
If you are focused on valid patterns you can draw out a butterfly from the most recent price action. The trade, however, is probably working because of the price level. Price action definitely showed that this was a level of interest having multiple patterns completing at the same price area and being a historical level for new Structure highs
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