If price breaks through trend line and continues to break double top neckline there is a high chance of it falling to 0.9700, confluence of 1.618 fib. If this price is met and does indeed bounce price is likely to retrace back up 0.618 fib before falling back to 0.0 retracement (the latest lowest low) and possibility of falling further to 1.618 fib, 0.9500 area. Possible 380 - 625 pip move.
Handel aktiv
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Price failed to meet projected low from break of Neckline by 40 pips so that give us a new short entry price @1.0106 Price may retrace back up to 1.0215 so stop loss should be placed above Head and Shoulders @1.0360 TP1. 0.9765 TP2. 0.9607
Kommentera
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*Double top not Head and Shoulders
Kommentarer
hoddsFX
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New short entry price @1.0098 as first target fell 40pips short
hoddsFX
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SL 25O
TP1. 340
TP2 490
hoddsFX
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IGNORE. PLEASE SEE UPDATE FOR TARGETS
qureshi009
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Thats my simple chart
qureshi009
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Excellent charting mate.
patterntrader
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Plotting chart setup professionally is a skill. Thank you for sharing this idea. Hope things come out well. Continue your good work.
Thank you.