This trade was originally brought to our attention this weekend in Jason Stapleton's Forex Market Preview video "Studying Harmonics" ( youtube.com/watch?v=SirRW2UwpBw&list=UUe3O5ZLxQzGz4-nfl6XLEHQ ) As I take a look at it today price action (after creating a LLLC) has retested the previous level of support which should now act as resistance.

In addition to the structure level we also have a Fibonacci ratio cluster of retracements and an inversion. Lastly, we have hidden divergence on the RSI which is a sign for trend continuation. Of course when I say a sign, it doesn't mean it will happen everytime, but it's something that we can add to our score when breaking down this trade.

Akil Stokes
Head Currency Trader at Trade Empowered
Fibonacci ClusterFibonacci RetracementstructureSupport and ResistanceTCTtradeempoweredtrend_followingUSD (US Dollar)

"The Trading Coach Podcast" - Available on your favorite podcasting app!
anchor.fm/thetradingcoachpodcast

Learn to Trade at tieronetrading.com/ (Start with the Risk-Free 14-Day Trial Membership
Also on:

Disclaimer