First off, we have price in a consolidation pattern. Breakout traders can monitor the break of the lower trend line as well as the 131.45 structure zone.
For advanced pattern trader, a break of the 131.45 structure also confluence with the potential BAMM trade (entering a long trade with target near the completion of the Bat pattern).
And of course, we do have a potential Bat pattern setup at the top as well.
Current Sentiment: Bearish
Pending Technical Score (PTS)
Direction with trend: +2
SnR Confluence: +2
Trendline Confluence: 0
Harmonic Confluence: 0
Total: 4/8
Wait for price action confirmation.
I would love to hear your opinion, feel free to comment, agree or disagree.
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www.fxpipsology.com/
www.facebook.com/fxpipsology
Cheers,
KY
For advanced pattern trader, a break of the 131.45 structure also confluence with the potential BAMM trade (entering a long trade with target near the completion of the Bat pattern).
And of course, we do have a potential Bat pattern setup at the top as well.
Current Sentiment: Bearish
Pending Technical Score (PTS)
Direction with trend: +2
SnR Confluence: +2
Trendline Confluence: 0
Harmonic Confluence: 0
Total: 4/8
Wait for price action confirmation.
I would love to hear your opinion, feel free to comment, agree or disagree.
------------------------------------------------------------------------------------------------------------------------------------------------------------------
Always wanted to connect, learn and help one another throughout your trading journey? Join our community for FREE at www.facebook.com/groups/fxpipsology/ The only thing you need to 'pay' is your commitment to trading and sharing!
Have a great pipping day!
www.fxpipsology.com/
www.facebook.com/fxpipsology
Cheers,
KY
