CURRENTLY AT PATTERN COMPLETION.
127.2% OF AB LEG
161.8% OF THE PREVIOUS BULLISH LEG.
PRICE FAILED TO CLOSE ABOVE THIS 161.8% FOR 3 DAYS STRAIGHT.
RSI D1 READING AT 77.68 WHILE RSI H4 HAS SHOWN BEARISH DIVERGENCE FOR A WHILE NOW.
RATIOS CHECKED OUT FINE.
ONE COULD SELL NOW WITH 100 PIPS SL AS A SAFETY MARGIN IN CASE PRICE DECIDES TO FALSE BREAK THE 161.8%.
TARGET WILL BE 1.5410 (38.2%)
PERSONALLY I HAVE PLACED A SELL ORDER @ 1.6200 +/- 10 PIPS.
1.6200 IS A KEY RESISTANCE FROM YEAR 2014.
I AM HOPING FOR THE NEWS EVENT LATER TO REALISE THIS IDEA SETUP. NEWS HAVE, OCASSIONALLY, AN EFFECT OF REALISING ONE'S SETUP, WHETHER OR NOT THE NEWS IS POSITIVE OR NEGATIVE.
127.2% OF AB LEG
161.8% OF THE PREVIOUS BULLISH LEG.
PRICE FAILED TO CLOSE ABOVE THIS 161.8% FOR 3 DAYS STRAIGHT.
RSI D1 READING AT 77.68 WHILE RSI H4 HAS SHOWN BEARISH DIVERGENCE FOR A WHILE NOW.
RATIOS CHECKED OUT FINE.
ONE COULD SELL NOW WITH 100 PIPS SL AS A SAFETY MARGIN IN CASE PRICE DECIDES TO FALSE BREAK THE 161.8%.
TARGET WILL BE 1.5410 (38.2%)
PERSONALLY I HAVE PLACED A SELL ORDER @ 1.6200 +/- 10 PIPS.
1.6200 IS A KEY RESISTANCE FROM YEAR 2014.
I AM HOPING FOR THE NEWS EVENT LATER TO REALISE THIS IDEA SETUP. NEWS HAVE, OCASSIONALLY, AN EFFECT OF REALISING ONE'S SETUP, WHETHER OR NOT THE NEWS IS POSITIVE OR NEGATIVE.