M1 : ATH so far @ 0.741460... now roughly lost 50 % from the peak ...
W1 : Weekly pivot level on W1 closing level @ 0.4715
D1 : Up 313 % in roughly 3 weeks... and down 43 % in 3 days...
Former uptrend line support broken and TS too !!
H4 : Double top formation in progress, coupled with bearish divergences
on several technical indicators !!!
Double top trigger level @ 0.517330 activated already twice; first time, failure to
confirm followed by a pullback failure to recover above the clouds (doji top) and
currently below the clouds. Wait for H4 closing for validation or invalidation.
Global picture in this time frame is not very encouraging at all !!!
H1 : Currently in an ongoing downtrend channel below the clouds
M30 : Warning !! Triangle breakout in progress, Watch closely breakout on one side
or on the other. Breakout implication would trigger a move of approx 0.0560 pips,
which give roughly on the upside the level of the clouds resistance area and on the downside,
roughly a retest of former low around the 0.4200 area.
M15 : In a uptrend channel, attempting to recover above the clouds
M5 : Successful upside breakout of the clouds
CONCLUSION :
WATCH CAREFULLY PRICE ACTION OVER THE UPCOMING VERY SHORT TERM PERIODS.
That will help you to detect early recovery signal (s)
Ironman8848
W1 : Weekly pivot level on W1 closing level @ 0.4715
D1 : Up 313 % in roughly 3 weeks... and down 43 % in 3 days...
Former uptrend line support broken and TS too !!
H4 : Double top formation in progress, coupled with bearish divergences
on several technical indicators !!!
Double top trigger level @ 0.517330 activated already twice; first time, failure to
confirm followed by a pullback failure to recover above the clouds (doji top) and
currently below the clouds. Wait for H4 closing for validation or invalidation.
Global picture in this time frame is not very encouraging at all !!!
H1 : Currently in an ongoing downtrend channel below the clouds
M30 : Warning !! Triangle breakout in progress, Watch closely breakout on one side
or on the other. Breakout implication would trigger a move of approx 0.0560 pips,
which give roughly on the upside the level of the clouds resistance area and on the downside,
roughly a retest of former low around the 0.4200 area.
M15 : In a uptrend channel, attempting to recover above the clouds
M5 : Successful upside breakout of the clouds
CONCLUSION :
WATCH CAREFULLY PRICE ACTION OVER THE UPCOMING VERY SHORT TERM PERIODS.
That will help you to detect early recovery signal (s)
Ironman8848
