This is not i trade I'm gonna be taking because i already have a long position open on this pair and I'm still waiting for my second target to be hit (54 pips booked on first target already). This is for anyone who's missed the initial bullish gartley
pattern, you might have another chance to get some profit out of this structure trade. These are the technical reasons why i think this might be a good buying opportunity.
1.) Recent bearish trend
has been broken (Break & close above previous structure high.
2) Double bottom
and break of structure = 2618 trade
3.) Bullish Divergence
on RS1 (Where the double bottom
So 'IF' this market comes down to the previous structure (122.43) It will present a nice long opportunity, Stops will go below the double bottom
and we are only gonna be shooting for one target since the r:r ratio is greater than 2:1.
Note: This is on a much lower time frame.