FCPO price broke out of ranging between 2475 - 2294 & formed a bearish harmonic pattern in the TF H1. By observing the higher TF chart, the current price which is overvalued indicated by the relative strength oscillator. Potential short term reversal might happen soon.
In order for the price to respect the pattern, the stop level shall be test & might overstretch it before going back into the permitted entry zone (Blue Box). Pay attention to the price action for trade execution.
Stops : 2567 (slightly higher would be better)
PRZ : 2554 - 2506 (Blue Box)
TP1 : 2454
TP2 : 2393
In order for the price to respect the pattern, the stop level shall be test & might overstretch it before going back into the permitted entry zone (Blue Box). Pay attention to the price action for trade execution.
Stops : 2567 (slightly higher would be better)
PRZ : 2554 - 2506 (Blue Box)
TP1 : 2454
TP2 : 2393
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