This pair has showed divergence on 1H, 30m and 15m time frames. I selected 15m time frame for analysis. The trend was in bullish trend before the divergence and then entered into a bearish pattern. Also when in bearish pattern it entered into a descending triangle which is continuous pattern, endorsing the downward trend after divergence. I entered into the trade by placing an instant sell order (Market Execution).
The Signal is:
EP: 1.09645
SL: 1.09738
TP: 1.09628
RR: 0.25%
Lots: 0.44
The Signal is:
EP: 1.09645
SL: 1.09738
TP: 1.09628
RR: 0.25%
Lots: 0.44
Trade closed: stop reached
Descending Triangle continuous pattern didn't play well. SL Hit.
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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.