After marking up the charts, you'll notice the market has finally shown its true colours.
We are met with a long term analysis which means big pips over a long time. A total of 100 pip stop loss to a 470 pip take profit.
The reason as to why?
It's because a half a year ago, the second level of rise and drop and came all the way up past the second level of rise and started forming a beautiful M. Now, the pair started to form an almost identical level two pattern, reaching the same exact price point as the previous level. With the fibonnacci being hit at the 38.2% and the resistance being hit as well, we will enter with a sell now.
We are met with a long term analysis which means big pips over a long time. A total of 100 pip stop loss to a 470 pip take profit.
The reason as to why?
It's because a half a year ago, the second level of rise and drop and came all the way up past the second level of rise and started forming a beautiful M. Now, the pair started to form an almost identical level two pattern, reaching the same exact price point as the previous level. With the fibonnacci being hit at the 38.2% and the resistance being hit as well, we will enter with a sell now.