in the making on EJ . I follow strict rules when trading this pattern, i.e. AB = 38.2% retracement, BC = 1.27% extension of XA and CD = 78.6% retrace of XC - this particular pattern, market is reversing at every fib point on a dime, touching the fib points and following the pattern. low risk strategy as you stand to gain at least 400 pips with targets at 132.500 mark.
After some bearish signals, EJ shot up today (27/11) which I believe is a futile attempt by the bulls to keep this moving. Honestly not surprised to see the market go up to the 1.618 level now which again has strong resistance - another short entry over here by me - the more it goes up, the more the reward is if you space out your entries