after the double top price made a flag pattern and it has given bearish signal at the neck line of double top so i am looking for a short trade to use price movement to retest the 4h broken channel upper line
supported by rising 4h channel the pair may retest both of channels as it has give double top formation at the flip area. we may expect a nice bullish candle signal to join the rising price train
as the title explains i am in a sell trade already. SL is 1 ATR away from the flip area first target is dip area of the patern. but the bigger picture reveals much bigger targets
the pair should have been completed the 3 rd leg which is the impulsive. now it is working to complete the 4th wave. it should end the retracement at the area highlighted blue. with a nice sell signal at 1h chart we are looking for a sell trade.
it is retesting the neckline with a nice sell signal we are looking for a sell trade with reasonable SL. as a Plan B if the price goes beyond the blue are and retests the area again we may look for a buy trade
i dont want it to break downside because it is only 35 pip distance to rising daily trendchannel. if it breaks up and retests i am looking for a buy trade
price has shown reaction from the 61.8 area of daily fibo level. it has given a nice bullish 4h signal to buy but i was asleep. now looking for buying at the libra neck area.
