Donajor8

HOW TO TRADE LIKE THEM REVERSAL PATTERN #6 nested failure

Short
FX_IDC:GBPMXN   BRITISH POUND / MEXICAN PESO
Here we have a nested failure pattern it contains a swing and a pullback that fails 2x to go higher. The target is the fist leg length as a measured move. This pattern is seen on all times frames the psychology is the bulls or bears try twice and after the second time they give up the confirmation is a high tail or a strong reversal candle after the last try. Here we see a high monthly tail.
If you have the pair sl at the tail target the leg
Keep size small and scale in when in profit add to it from the profit. Eurmxn is in the same condition if you have that pair
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.