Reason 1:
This was confirmed about 2 months ago. May be, many of traders keeping their short positions since then. The big Pitchfork shows EURUSD is already below the lower line, and can't get upside for 2 months.

Reason 2:
There is a clear Butterfly formed right after the pullback to the Pitchfork LowerLine. I'm keeping my Short entry right from the red arrow @1.1322, which is a 161.8% of the Fibo.
Reason 3:
Wedge breakout and pullback. (You can see there I had 1 more short position with 75pips of profit on the first pullback)

It was very clear opportunity to take a position. Here is my TP is much nearer than my target because of the contest limitation. Do you wanna know what is the potential target? Check back my next blog post soon
Traduzir para Inglês Mostrar original