Price just formed a valid C point at the minimum 1.618 level which aligns with a valid pattern, which has opened up a shorting opportunity from C to D.
The measurements for a valid pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
Taking a look at the below price is still respecting the upper resistance .
If we experience a successful short position from C to D, this will open up an opportunity to buy in the future.
I hope you all have an excellent week and safe trading!
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Just that one book you already mentioned out of 15K worth of books was the best?
I'd like to see you detailing stop loss and take profit areas prior to posting, drawing up a chart without it doesn't show much transparency, this way anyone could be right all the time :) you'll see the majority of my posts show entries and exits, whether I decide to take the trade or not.
Thanks for your explanation and insight on this pair, I'm sure there are a lot of people reading this post have found it extremely useful.