Price back into that solid structure zone for the eighth time forming a Double Top, Harmonic Legs (1H), 1.272 Fib Extension, 1.414 Fib Inversion, 1.618 Fib Extension!
Two potential good targets offering a great Risk Reward!
Likes, Comments and or Constructive Feedback is welcome as always your support means alot!
SMART TRADING
Comments
-Alexander-
⋅
good prediction. it goes the way you predicted.
The_Cannalyst
⋅
thx for sharing..i have a similar view
The Pair tested 9!!! times the Level between 1,5645- 1,5685.
When it worked 9 times to short that Pair, will it work once again?
In my opinion it looks too easy to fix that Level again because the strong Resistance Cluster is too obvious. The Short Chance/Risk-Ratio is appealing. I have illustrated the possible short Position in my Chart.
IMO, the resist will fall, the pair will reach new HIGHS. The BUY-Trigger is still above the mentioned Level (1,5685). For the bullish szeanrio i also Show a possible longtrade in my Chart. Good luck! Good Trades!
Former Analysis: Good things need time: Will the Pair beat its strong resist @ 1,5675? If yes then the pair could make a new HIGH @ the uptrend channels upper edge @ 1,6145.
SmartTradingFX
⋅
Thanks for your comment and sharing your chart! I can understand what your saying and eventually it will break out and I believe when it does we will get a strong move one way or another! When a trade meets my plan and criteria and I get a valid signal then i must take the trade, thats me personally! Some may wait to see if the breakout occurs and catch that stronger move! Thanks again for your comment its very much appreciated!
The_Cannalyst
⋅
You are welcome :-) and sorry, i forgot to attach my newest chart ^^
Update: GBPUSD reached Selling Zone / Breakout Zone
SmartTradingFX
⋅
Nice! Thanks for sharing continue to do so and keep up the good work! I'm hoping for the move downwards :)
The_Cannalyst
⋅
the market met your expectation :-) Congrats!
SmartTradingFX
⋅
Thank you Sir! Also +75 PIPs from GBPJPY :)
Ice_
⋅
Good scalp, but a dangerous one. It's clearly trend-contrary.
SmartTradingFX
⋅
Hi Gruber, Why would it be a dangerous one?
asiansupermarket
⋅
It looks like it wants to break out. The tests/consolidation to the upside is more common than the downside accumulation. When it dips there is a cup (accumulation) and at the top there is sharp up down (consolidation)