(Click at the pictures to enlarge)A slingshort very often foresee a very powerfull move in the direction of the trend.
The first chart show a Bearish Slingshot in GBP/JPY foretelling a very powerfull downmove to follow. Just after the slingshort GBP/JPY fell more than 1000 pips, which is a very very good trade and profit.
A Bearish Slingshot could be building in EUR/USD at the same time a hook could also be building calling for a potential powerfull downmove in the near future.
A break below 145.73 would confirm the slingshort and a powerfull downmove.
There is no way to tell how big the downmove will be, but as it could be wave iii it could be quit big.
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