Relatively short idea combining both fundamental and technical analysis that shows a double top having formed on the pair indicating a further drop than we've seen these past few days.
The conservative target is a very strong area that once showed some consolidation. If it breaks this area, expect a further drop to the aggressive target that showed very strong resistance in the past. Albeit a riskier target, the latter is very promising if S&R levels are to be trusted.
Trade open: 81.82
SL: 82.358
TP1: 80.736
TP2: 77.09
The conservative target is a very strong area that once showed some consolidation. If it breaks this area, expect a further drop to the aggressive target that showed very strong resistance in the past. Albeit a riskier target, the latter is very promising if S&R levels are to be trusted.
Trade open: 81.82
SL: 82.358
TP1: 80.736
TP2: 77.09
Trade active
Comment:
Conservative target reached!
Comment:
I closed this trade once it hit the conservative target the first time, but I'm still monitoring it in the event it shows a potential plunge to the aggressive target.
Stay tuned!
Stay tuned!
Trade closed: target reached:
The idea has panned out perfectly with a gain of 476 pips. Well done to everyone who took this trade!