This is an update to the short trade we had taken up on this pair from the breakout of the break on the lower side.
We had fixed on the target for the pattern at 182.90. After yesterday's price action which saw the pair retest the upper borders, it has formed a reliable as shown in the chart.
Most interestingly for us, the 100% Fib target lies precisely at the pattern target.
It acts as a confirmation of the target for us. Normally when a target is exphasised further with another pattern, it attaches strength to the intended move.
Just in case you still dont hold a short position, you could still jump in.
For further details of this trade, please refer to the previous posts on this trade that i have attached below.
SELL @ 186.00, S/L 187.70
T/P @ 182.90.
And those who have entered this trade at the breakout, I would suggest that we should move our Stop loss to breakeven.
Happy trading and happy pippin!