Everything is on chart. It looks very promising but we must understand that we are in weekly corrective move anyway so it is counter trend setup. Otherwise everything is on chart, simple as that!
FX Protector
AUD/CHF has formed nice 2nd 123 setup on strong structure!
Reasons for short are on chart, While writing this idea price already droped quiet a while...So you might have late entry... For engulfing pinbar you should check it by yourself because on this idea chart is not visible so much!
Stop loss is set to 1.5 ATR.
1st take profit is set to retest
2nd one to FE...
Gold is slowly reaching strong support line and i am expecting for little bit bigger correction to the upside! If zone 1000$ will be ignored next probably even stronger support is around 700$ (about that next time):
Why this is strong PRZ (potential reversal zone)?
- Strong structure
- 1000$ round psychological number
- Fibonacci retracement 78.6
- Fibonacci...
1. Major trend is bearish
2. We got break of triangle with nice forming 123 or ABC pattern (LL->LH->LL...)
3. 3rd touch of resistance trend line gives even more confidence.
4. Price is currently sitting on structure from previus swing low (support became resistance)
5. We also have fibonacci retracment 50%
Enter on D1 waiting for pin bar, engulfing or any candle...
