A scale in opportunity & an entry if you missed the 1st impulse
Hello there traders
1-We can see a strong uptrend of the price since the beginning of 2021
2-A double top
3-Strong bearish impulsive moves from the price breaking the neckline & the uptrend
4-Sells were taken at the retest of the neckline & 0.5 Fibonacci
5-First TP achieved
6-Waiting for a scale in opportunity if the price retraces back to the area of interest ( Previous S turned R - 0.382 Fibo - 3rd touch on the descending trendline ) and shows rejection
***
Although I expect the pair to go beyond the target to reach the Violet colored Long-term ascending channel ,I'd rather take profits at the area around 1.92 and if bearish signs persist I may extend the last TP to around 1.9 with the position running risk-free
Thanks for your reading and trade safe everybody
1-We can see a strong uptrend of the price since the beginning of 2021
2-A double top
3-Strong bearish impulsive moves from the price breaking the neckline & the uptrend
4-Sells were taken at the retest of the neckline & 0.5 Fibonacci
5-First TP achieved
6-Waiting for a scale in opportunity if the price retraces back to the area of interest ( Previous S turned R - 0.382 Fibo - 3rd touch on the descending trendline ) and shows rejection
***
Although I expect the pair to go beyond the target to reach the Violet colored Long-term ascending channel ,I'd rather take profits at the area around 1.92 and if bearish signs persist I may extend the last TP to around 1.9 with the position running risk-free
Thanks for your reading and trade safe everybody
Trade fermée: cible de profit atteinte
Price made a very minor correction so No Scale ins were addedthanks
Note
the extended target is reached All closed
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.