TREND CONFIRMATION: There the initial trend was bearish uptrend this is indicated by the 200 EMA and trendline. (YES) PATTERN INDICATION: This reversal chart pattern emerges as the buying activity declines and the market fails to create new highs, shown by the downward slope with price creating a new LH. Given that support levels become weaker as it gets tested...
240 chart. A bearish shark pattern has completed on the Dollar/Forint. S.l., T.P.s & Entry all sorted. 1) R/R = 2.23% 2) R/R = 3.56
ENTRY: 306.900 TP: 306.000 TP2: 305.000 TP3: 304.000 SL: 308.500 Chart time frame - 1W Time for reaching TP - 1W Follow, Like, Share or Comment Thanks on supporting! All best!
Disclaimer - I could be wrong/Trade at your own risk...
If weekly candle closes below the trendline, a long term downtrend can ensue. Key levels on the chart.
Targets and stop loss mentioned in graph.