This pair hasn't been trending for a couple of weeks now and so we're in a nice consolidation zone. Once such a zone shows up, advanced pattern opportunities occur and here is one of them. Let's take a look at this bearish gartley setup:
We're looking for a rally into the 1.6746 level to get short and hopefully get a pullback into our target points. This idea contains two fibonacci based target points and a stop loss point above X.
Before trading any of these patterns you should backtest them yourself to become a comfortable trader. One of the findings in my own backtest was the difference in performance between trading patterns in consolidation and in trend. The pattern setups in consolidation performed a lot better due to the "zone" where the pair is battling in. A lot of resistance and support at the highs and lows and no real directional movement is good for us as pattern traders.
Good luck trading everyone!
We're looking for a rally into the 1.6746 level to get short and hopefully get a pullback into our target points. This idea contains two fibonacci based target points and a stop loss point above X.
Before trading any of these patterns you should backtest them yourself to become a comfortable trader. One of the findings in my own backtest was the difference in performance between trading patterns in consolidation and in trend. The pattern setups in consolidation performed a lot better due to the "zone" where the pair is battling in. A lot of resistance and support at the highs and lows and no real directional movement is good for us as pattern traders.
Good luck trading everyone!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.