Following breakout of bear channel, bulls has pushed price higher towards major structure level and consolidated right below it. Currently pair is potentially forming a Bearish Bat pattern completing right at the major structure resistance. If price continues higher towards Bat completion point at 0.99845, then I will be looking for sell signal around this level, RSI should be overbought and diverging as price gets to these levels in order to confirm sell signal. ATR Based stops above the Bats starting point (X).
Trade closed: stop reached
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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.