EURCAD H4 Reversion Setup
Double-top pattern. RSI levels indicate that pair is getting overbought in the H4 chart. A reversion is a prety possible cenario. Looking for confirmation in lower time frame chart for entering short.
This is a clean setup for a double-top reversion. RSI levels (14 period) indicate a overbought cenario and EMA's(50,100,200) indicate a lower expected price. Always wait for confirmation and retest.
This is a clean setup for a double-top reversion. RSI levels (14 period) indicate a overbought cenario and EMA's(50,100,200) indicate a lower expected price. Always wait for confirmation and retest.
Note
the price reached the 1.55289 level witch was a previous high. Currently price is retesting the top level and probably we are going to see a break to the downside
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.
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.