We have a bearish shark
, potentially a three drives
pattern (look for a crab
or butterfly pattern
on it's last bull wave up) We have a bearish ABCD
pattern. all completing at the same spot. I believe that this short opportunity might be at the top of a very big move, if you have the patience to hold the trade you could be looking at a 250+ trade, I think it's got enough weakness developing to hit 400 pips honestly. But we would have to break the bullish trendline
I have drawn for that.
I'll be watching the 15 minute and maybe even smaller time frames for a short entry up near the channel resistance.
Once this reversal is truly confirmed I start shorting all the pullbacks.
You could very well snag 600 pips off this if you know how to enter positions and manage them right.
But we need the patterns to complete first!!!