USD has made multiple AB=CD pattern with around 850 pips bullish and retrace to around 61.8 - 76.4 fibonnaci. Thus, we can open sell position at 1.363-1.365 (after reversal confirmation) and aim for 61.8 fibonnaci retracement, because:
1. It finish the AB=CD pattern (850 pips) at 1.363
2. RSI overbought parale
3. It might end elliot wave 5 and start the wave A
4. Stop loss is safe and it has good RR ratio
1. It finish the AB=CD pattern (850 pips) at 1.363
2. RSI overbought parale
3. It might end elliot wave 5 and start the wave A
4. Stop loss is safe and it has good RR ratio
Comment:
Don't forget to take some and set the SL at BEP
Trade closed: target reached:
+500 pips