Hello Traders,
The French Gap has yet to be closed. The GeoPolitical setting, especially in regards to Iran and China will pose as strong catalysts to decide the faith of the pair.
The traditional rules say that the triangle pattern - in this case - is followed by a continuation DOWN, the "size" of the initial fall until the triangle began forming: henceforth the 1.07 Target.
However, those rules are not imperative and we constantly witness patterns not working out the way we expect them to. IF this happens to be the case, and the B wave has yet to complete, lookout for 1.20 Resistance levels to short.
Note: Chart is on the Daily Time Frame.
Good luck,
The French Gap has yet to be closed. The GeoPolitical setting, especially in regards to Iran and China will pose as strong catalysts to decide the faith of the pair.
The traditional rules say that the triangle pattern - in this case - is followed by a continuation DOWN, the "size" of the initial fall until the triangle began forming: henceforth the 1.07 Target.
However, those rules are not imperative and we constantly witness patterns not working out the way we expect them to. IF this happens to be the case, and the B wave has yet to complete, lookout for 1.20 Resistance levels to short.
Note: Chart is on the Daily Time Frame.
Good luck,
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.