Another opportunity to jump on the underlying higher time frame short trend. I would enter short at the D completion on the 0.786 retracement and 1.414 extension.
Stops would go above X with targets at the 0.618 retracement of the C to D move. The reason why targets are less conservative, is due to the potential trade position agreeing with the overall trend.
Hello fellow trader,
Please check this idea bellow: Sincerely,
Trader.
CarlosPM
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@LaiptaiCervinskas, Looks good! It also agrees with a different longer time frame analysis I have on this pair,
check it out. These short term opportunities are great for timing the entry on these longer moves.
Please check this idea bellow:
Sincerely,
Trader.