AB=CD completed right at Daily Structure
Updated
Hey guys,
very simple trade, price has completed an AB=CD pattern on this pair, right at the most previous structure level. Also, it has created a nice long wick to the top candle that closed as engulfing, with RSI overbought condition in our support.
Waiting for a little pullback in order to short the market and get at least a 1:1 RR on the first target that would be placed on the first AB=CD target (at the 382 retracement).
Stops above the highest highs.
Good trading!
If you want to share your standpoint or ask questions, feel free to write below.
Otherwise, see you in the next chart!
very simple trade, price has completed an AB=CD pattern on this pair, right at the most previous structure level. Also, it has created a nice long wick to the top candle that closed as engulfing, with RSI overbought condition in our support.
Waiting for a little pullback in order to short the market and get at least a 1:1 RR on the first target that would be placed on the first AB=CD target (at the 382 retracement).
Stops above the highest highs.
Good trading!
If you want to share your standpoint or ask questions, feel free to write below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached
Nice end of the week with this first target being hit! Stops at breakeven now.Trade closed: target reached
Second target attained!Related publications
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