Entry triggered at the long-term watch level on this pair. Targets are deep, and there are four of them. First target to watch is the weekend gap fill. Of course with these tight stops you have a high probability of stop-put, if you take trades like these manage risk accordingly. I placed SL tightly above highs because any rally above will invalidate the setup and we'll have to wait for more bearish signals. Gartley and Small bat are both complete at this point. Happy trading!
Pinbar resistance strong enough to contain. Trade is active:
Hey traders! We're up about +14 Pips so far on this one. I'm setting SL to breakeven. Here's why: We have a potential triangle complete that may act as continuation. I like risk in setting to B/E here because if this is not in fact a continuation pattern then a large drop ensues and entry level will likely not be touched. Check it out below. Cheers!
Trade closed manually:
Closed at Breakeven! The above triangle was accurate, no pips lost nor gained. New wave count pending, stay tuned!