(Daily) - Price hit Key resistance level at (0.60308 - 0.59985) and consolidated at the level attempting to breakout but failing and forming double top in 4H.
(4H) - Price formed double top at the Key resistance level (0.60308 - 0.59985) which is reversal pattern, neckline of the DT at (0.60031).
(4H) - Bearish market structure at the level price forming new lower high and lower low at (0.60578 - 0.60535)
(4H) - Rising trendline connecting low of the price at (0.58522 - 0.59556).
Entry ;
-We have 2 entry models;
1.Aggressive Entry at the Double top after the close of the bearish Engulfing Candle SL above double top at 0.60808
2.Conservative Entry wait for the break of the rising trendline to signal trend change from an uptrend to downtrend then execute.
(4H) - Price formed double top at the Key resistance level (0.60308 - 0.59985) which is reversal pattern, neckline of the DT at (0.60031).
(4H) - Bearish market structure at the level price forming new lower high and lower low at (0.60578 - 0.60535)
(4H) - Rising trendline connecting low of the price at (0.58522 - 0.59556).
Entry ;
-We have 2 entry models;
1.Aggressive Entry at the Double top after the close of the bearish Engulfing Candle SL above double top at 0.60808
2.Conservative Entry wait for the break of the rising trendline to signal trend change from an uptrend to downtrend then execute.
Trade active
- Price is currently in a trading range; - High of the range at (0.60652 - 0.60580).
- Low of the range at (0.60401 - 0.60272).
- (4H) Price is making lower low and lower high inside the TR.
- For additional confluence Check correlating pair GBPUSD & EURUSD bearish price action forming at Key Resistance level.
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.