Like the EURUSD, This pair is in the process of forming a head and shoulder pattern!
Once the pattern is complete a break to the downside would be on the cards. Furthermore the weekly EMA 50 would also be violated in the process thus reducing the amount of support levels in the process. Once the neckline is broken i will wait for the retest of either the weekly 50 EMA or the neckline itself before i place the trade.
It might take a few weeks for the pattern to complete but its worth the wait as its a high probability pattern and the risk reward might be 1:2 or 1:3.
I will update this thread later in the future shall the criteria meet.
Once the pattern is complete a break to the downside would be on the cards. Furthermore the weekly EMA 50 would also be violated in the process thus reducing the amount of support levels in the process. Once the neckline is broken i will wait for the retest of either the weekly 50 EMA or the neckline itself before i place the trade.
It might take a few weeks for the pattern to complete but its worth the wait as its a high probability pattern and the risk reward might be 1:2 or 1:3.
I will update this thread later in the future shall the criteria meet.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。