Seems like a Gartley is in play. Shorting till .71500. Following that i am going to enter a buy at .71498 to be exact
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1hr chart printed a shooting star.
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Okay not exactly as planned. Im starting to see two things that could happen here. One is price gets stalled out at 71500-71300 area and continues up. The second route this could take is- it gets to the 71500 mark and the Donald gives his speech, one that the markets like about the infrastructure spending program. One that is late enough to satisfy the markets. and this pair can go as far down as 69700 area.
Trade closed: target reached
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Target reached. Turns out this is a bat pattern. Will do a buy from here. see latest post on kiwi update.