Euro / British PoundShort
EURGBP Double Top at Supply
We can see the preceding Rally to the Supply Zone.
First Peak - has formed .8619. The volume was a High VSA candle ( Yellow).
When a double top forms the intervening price action has progressively lower volume. As can be
seen in this pair.
Second Peak - is forming. It should form with lower volume. As it is here with an Average VSA candle (Green). This shows buyer exhaustion and the potential for sellers to take control and price to move down.
It would be nice if this was associated with a liquidity run to trap buyers above .8620.
On a break to the downside, particularly the Neckline , there is likely to be higher volume Yellow or Red as the smart money comes into play.
Short term Bias is now Bearish, with a move to either the 200MA or further to the Demand Zone.
First Peak - has formed .8619. The volume was a High VSA candle ( Yellow).
When a double top forms the intervening price action has progressively lower volume. As can be
seen in this pair.
Second Peak - is forming. It should form with lower volume. As it is here with an Average VSA candle (Green). This shows buyer exhaustion and the potential for sellers to take control and price to move down.
It would be nice if this was associated with a liquidity run to trap buyers above .8620.
On a break to the downside, particularly the Neckline , there is likely to be higher volume Yellow or Red as the smart money comes into play.
Short term Bias is now Bearish, with a move to either the 200MA or further to the Demand Zone.
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