USD HUF Possible fake breakout
USDHUF 1D TF
A Descending triangle can be seen
4 waves are done, one more wave is to seen, thus a good shorting opportunity should be seen
USDHUF is at a important reversal point-It should reverse 302.5, however if a breakout is seen entry can be taken as well with target at TGT 2-Possible pips-14.2 ( Big target-Will take time)
However it may be a fake breakout thus caution to be taken!
A short entry can be taken now, with SL at previous swing high at point B -SL 1,
Target at bottom of support, first target E, and second target at TGT 1.
RSI is also at resistance and may give reversal as there is strong support.
Possible pips-
12-18
RR Ratio-1.5
A Descending triangle can be seen
4 waves are done, one more wave is to seen, thus a good shorting opportunity should be seen
USDHUF is at a important reversal point-It should reverse 302.5, however if a breakout is seen entry can be taken as well with target at TGT 2-Possible pips-14.2 ( Big target-Will take time)
However it may be a fake breakout thus caution to be taken!
A short entry can be taken now, with SL at previous swing high at point B -SL 1,
Target at bottom of support, first target E, and second target at TGT 1.
RSI is also at resistance and may give reversal as there is strong support.
Possible pips-
12-18
RR Ratio-1.5
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