Hello, looking at the 4-hour chart we see volume getting lower now after the big run up from the bottom. Could this be a bull trap?
We are moving slowly to test the resistance above us. When it gets rejected there and we fall down the potential is given that we form a double top.
When we fall under the lower pink trendline, the double top would be confirmed! We should have a bit pull back to test the lower pink trendline and then fall again.
Target for this double top formation would be at around 7200. We have to see how this plays out.
Good luck trading everybody!
We are moving slowly to test the resistance above us. When it gets rejected there and we fall down the potential is given that we form a double top.
When we fall under the lower pink trendline, the double top would be confirmed! We should have a bit pull back to test the lower pink trendline and then fall again.
Target for this double top formation would be at around 7200. We have to see how this plays out.
Good luck trading everybody!