Price just formed a valid C point at the minimum 1.618 level which aligns with a valid pattern, which has opened up a shorting opportunity from C to D.
The measurements for a valid pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
Taking a look at the below price is still respecting the upper resistance .
If we experience a successful short position from C to D, this will open up an opportunity to buy in the future.
I hope you all have an excellent week and safe trading!
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I'd like to see you detailing stop loss and take profit areas prior to posting, drawing up a chart without it doesn't show much transparency, this way anyone could be right all the time :) you'll see the majority of my posts show entries and exits, whether I decide to take the trade or not.
Thanks for your explanation and insight on this pair, I'm sure there are a lot of people reading this post have found it extremely useful.