Hi guys we have a short opportunity on this market as we have a potential short setup for trend reversal as for 2618. Double top was visible and valid, there was a broken of the neckline giving as an opportunity for a 2618 trade setup. An aggressive sell limit will do on the 61.8% price even hande (1.2934). Stops would be above the double top (1.30) and targets could be manage as it follows:
Target 1: Previous low that could act as demand zone or support - 1.2855
Target 2: As for the Daily Bearish Butterfly pattern TP 1 is and for potential bullish pattern completion on the HR which is a bullish Cypher or Shark 88.60%
Take note of the 38.20% of the bearish butterfly TP 1 is confluence with the bullish shark 88.60% A chart will be posted below.
Trade with care and good luck!
Previous trade Setup here on the GBP with short and long (bracketing) check on the Link to Related Ideas.
Have a great weekend!
Target 1: Previous low that could act as demand zone or support - 1.2855
Target 2: As for the Daily Bearish Butterfly pattern TP 1 is and for potential bullish pattern completion on the HR which is a bullish Cypher or Shark 88.60%
Take note of the 38.20% of the bearish butterfly TP 1 is confluence with the bullish shark 88.60% A chart will be posted below.
Trade with care and good luck!
Previous trade Setup here on the GBP with short and long (bracketing) check on the Link to Related Ideas.
Have a great weekend!
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2618 trade is already filled in.
