Potential reversal at major post-brexit support, offering very good risk reward ratio. Oscillators showing oversold, and candlestick patterns forming.
I have placed stop losses below the lowest structure level, and take profit levels below major resistance levels
Bearish Cypher and Gartley formation on EURUSD 1h chart, completing close to one another. I will trade the two patterns separately, as as shown, should the patterns complete.
Breakout from post Brexit triangle consolidation. AB=CD pattern completing near major post Brexit resistance, after breakout from triangle.
I will be selling before the crossover of previous resistance levels, placing stops above the highest resistance level, and taking profits at two support levels below (see chart)
Previous support levels, combined with .618 retracement off previous swing high to swing low, and resistance from 100 and 200 SMA. Therefore likely reversal point.