The reason why im short on this market is because its in a downtrend then suddenly it rallys up. the market then gives a sign of a bullish rotation such as a new structure high outside return and then another new structure high, however i dont think that the market is going to contine going up and the advance cypher pattern is going to be my reason to go short,
Trend Continuation Trade, this means that the market may retest previous structure low or even go futher the reason for entry on this pair is an advanced garlty pattern
This is the short for the market because its a trend continuation trade and the main thing is the reason for entry in my case ive entered based on the advance bat pattern and im looking for the market to retest the previous structure lows of this market
this is the same setup as the USDJPY setup which i have just posted, this is an example of the trend continuation trade with the advance pattern for the entry and then we get the reason for entry met, im going to be shooting for the structure highs as targets
I think that the market is going to drop due to the reason that the market has hit a monthly resitance, which has held before and it can be see to the left of the market. the reason why im going bearish is because of the double tops on the daily and then the one on the hourly. looking left with FIbs the first profit targets is the 3.82 ratio
The reason why i have entered teh trade is becasue there is advance pattern which has set up and there is also previous strcucture resistance looking left
on the 240 time frame there is a wedge pattern an this can possibly break to the downside becasue RSI is showing divergence whilst the market showing a upward moving wedge this can led to the market falling
Market is in a downtrend, however the recent outbreak to the upside can be a potential relief rally for the market, and after i this complex pullback has completed the market is going to retest structure lows, and maybe even carry on the underlying trend, which is bearish
Bearish Cypher and Gatley Pattern, it can be traded as a killzone and when you get a reason for entry you go short but I'm just going to trade the Gartley because it is in rule book.
