as a fact the possibilities at forex market are 50-50 but as we are not gambling we just try to find more than a reason to enter a position by building a case for what could happen even if 49-51 chances for me it's enough to take a side of the market and as a fact here we can see more than reason to short forming many types of traders styles..
1-valid bat pattern as the structure of X isn't broken yet.
2-ABCD pattern completion at structure which is the blue line.
3-channel conflict at the structure with the fact of ABCD pattern completion.
4-fib. extensions cluster as extensions and inverted give you a good PRZ which is,
1-1.618 of AB of the bat pattern.
2-1.618 of the swing high to swing low of the completion of CD leg of the bat pattern.
3-the extension of ABCD move complete at structure 1.272.
5-RSI divergence all the way down while the chart forming new highs represented by the green lines.
6-ELLIOT waves of 5.
7-the green circle at the left showing a strong buyer which failed to bullish the market as the buy reject of sell show a big wick but still couldn't fight it as bearish.
8-structure of point 7 holds 2 times at the formation of the point X of the bat pattern reject the price under the structure under the blue line as a close.
9-the red line which was support turned resistance hold the price WICK TO WICK showing a real resistance.
10-psy. level at price 1.15000 involve in the reason of the PRZ before and expected to do the same now.
11-BLUE BAT PATTERN BASED ON ANOTHER LEG JUST COMPLETE AT THE RED LINE OF STRUCTURE SHOW WICK TO WICK TRADE.
12-nother ABCD with purple colour complete under the X of the blue bat pattern.
my idea for enter and exit,
for the best risk/reward position as we have a perfect PRZ which show almost full extension for more than a move supported with all the reasons we said before which follow a word i heard from WARREN BUFFETT *buy when the market is over sold and sell when the market is over bought* looks simple but very complicated,
i suggest the stop lose 10 pips above 1.618 extension to win one more reason for reverse and as between the blue line and the red line of the structure that huge wicks so stop lose hunters and strong spikes expected which will be safe to stay above 1.618.
as the exit case or take profit will be on 2 targets base on structure and fib. 38.2 and 61.8 with respecting the psy. areas.
1-valid bat pattern as the structure of X isn't broken yet.
2-ABCD pattern completion at structure which is the blue line.
3-channel conflict at the structure with the fact of ABCD pattern completion.
4-fib. extensions cluster as extensions and inverted give you a good PRZ which is,
1-1.618 of AB of the bat pattern.
2-1.618 of the swing high to swing low of the completion of CD leg of the bat pattern.
3-the extension of ABCD move complete at structure 1.272.
5-RSI divergence all the way down while the chart forming new highs represented by the green lines.
6-ELLIOT waves of 5.
7-the green circle at the left showing a strong buyer which failed to bullish the market as the buy reject of sell show a big wick but still couldn't fight it as bearish.
8-structure of point 7 holds 2 times at the formation of the point X of the bat pattern reject the price under the structure under the blue line as a close.
9-the red line which was support turned resistance hold the price WICK TO WICK showing a real resistance.
10-psy. level at price 1.15000 involve in the reason of the PRZ before and expected to do the same now.
11-BLUE BAT PATTERN BASED ON ANOTHER LEG JUST COMPLETE AT THE RED LINE OF STRUCTURE SHOW WICK TO WICK TRADE.
12-nother ABCD with purple colour complete under the X of the blue bat pattern.
my idea for enter and exit,
for the best risk/reward position as we have a perfect PRZ which show almost full extension for more than a move supported with all the reasons we said before which follow a word i heard from WARREN BUFFETT *buy when the market is over sold and sell when the market is over bought* looks simple but very complicated,
i suggest the stop lose 10 pips above 1.618 extension to win one more reason for reverse and as between the blue line and the red line of the structure that huge wicks so stop lose hunters and strong spikes expected which will be safe to stay above 1.618.
as the exit case or take profit will be on 2 targets base on structure and fib. 38.2 and 61.8 with respecting the psy. areas.