eurusd
Starting from the weekly TF we can see how price has started to reject strongly and is possibly forming a doubletop, meaning that we could expect for pice to start dropping in the lower timeframes. In the daily TF we can see that price has been mostly Bullish but is now becoming weak because price has started failing to break above structure and make new higher highs. as for the 4hr TF we can see how price shifted from an uptrend to a downtrend making lower lows and lower highs meaning that right now price could possibly go for a new lower low giving us the chance to look for shorts in the lower timeframes such as 1hr, 15m etc. If we drop to the 1hr TF we can see how the bears start to come in, we can see this because price formed a strong bearish engulfing candle, as for now I would wait for price to give a break of structure for further bearish confirmation and then take a trade for short. unless price manages to keep pushing up I will not look for shorts anymore.
this is not financial advice, trade at your own risk.
this is not financial advice, trade at your own risk.
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