Potential Double Top at Key Resistance Level Signals Sell Entry
Updated
Hello traders,
Looking at the chart, we can see a possible double top formation near the extreme market resistance level of around 1.2200. This level has been a strong resistance in the past, with the market getting rejected multiple times before.
It's important to keep in mind the recent bank crisis and developments. While it may be over calmer now, it's always a good idea to stay cautious and not take any trades without proper analysis.
If you are looking to enter a sell position, it's best to wait for a confirmation of the double top formation. This could include a bearish candlestick pattern or a break below the neckline of the pattern. As always, make sure to use proper risk management and set your stop loss and take profit levels accordingly.
Thank you for reading, and happy trading!
Looking at the chart, we can see a possible double top formation near the extreme market resistance level of around 1.2200. This level has been a strong resistance in the past, with the market getting rejected multiple times before.
It's important to keep in mind the recent bank crisis and developments. While it may be over calmer now, it's always a good idea to stay cautious and not take any trades without proper analysis.
If you are looking to enter a sell position, it's best to wait for a confirmation of the double top formation. This could include a bearish candlestick pattern or a break below the neckline of the pattern. As always, make sure to use proper risk management and set your stop loss and take profit levels accordingly.
Thank you for reading, and happy trading!
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