Forex Signal EURGBP Double Top & Fractal Breakout
Pattern /Reason: Bullish Bat / Double Top / Resistance Rejection / Fractal Breakout
We already have a short position. Price rejected the resistance and made the double top.
Time Frame: Daily Chart
Accuracy of the Pattern( How much it’s meeting the requirements of the said pattern): 89%
Setup No: EUGB260601
Recommended Lot: 0.30 at 10 K
Trade Period: Intraday / Midterm
Stop Loss: 0.89750
TP1: 0.89340 – 0.89320 ( You can add short at the breakout of the trendline ) / Reached
TP 3: 0.89080
TP 4: 0.88900
Divergence/ Convergence Confirmation: RSI and MACD Divergence
Candle Pattern Confirmation: 3 Lines Down
Moving Average Confirmation:
The trend of the Timeframe: Bullish
The trend in the Daily Chart: Bullish
Update: TP1 Reached You may take partial profit
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.
VERIFIED ACCOUNT AND SETUP RESULTS
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
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