My first patterns I discovered on the GBPUSD hourly and 4 hr chart. I drew it in on the 4h chart because it's just less messy.
What we have here is a where the 1.272 fib extension of the X to A leg, the of the inverted A-B leg and the potential second leg of the move (C-D) all line up at the previous structure low (which also happens to be a nice round number)
It might of course be a coincidence, but I am keeping my eye on this for an opportunity to go long around this level.
Whether you are a day trader, swing trader or position trader. If you trade stocks, options, forex or crypto, every trader should be able to identify with our exclusive designs.