M1 : Bearish engulfing pattern in progress (bearish if confirmed on M1 closing level !)
W1 : Ongoing bearish price action in progress. Next significant support level to watch is
the W1 uptrend support line, currently @ 0.2450-0.2500
D1 : Downtrend resistance line under recovery attack, Watch carefully today's closing level !
H4 : Double top target filled. The H4 support trend line, for the time being, hold, rejecting
the downside breakout attempt 3 times so far. Currently, just above TS but still below MBB and KS and last
but not least, still below the clouds which as you can see, rejected all upside breakouts attempts !
H1 : Warning potential double top (0.3073) in progress. Trigger level @ 0.2862. Watch very closely, price action
over the coming hour (s) which will validate or invalidate this potential reversa formation calling if trigger level
activated, for a move towards 0.2651 !!!
M30 : Currently attempting to hold above the clouds !
M15 : Above the clouds and above the very short term uptrend support line.
Watch 0.3073 on the upside and 0.3000 on the downside as levels indicators for further development.
M5 : same than M15, as a failure to hold above the psychological 0.3000 level would confirm a top in place
and call for a reversal targeting the double top trigger level @ 0.2862
CONCLUSION :
RECENT AND CURRENT PRICE ACTION SHOULD STILL BE SEEN AS A CORRECTIVE MOVE IN A BROAD BEAR TREND AND
ANY LONG POSITION SHOULD BE PROTECTED WITH A TIGHT TRAILING STOP LOSS.
Ironman8848
W1 : Ongoing bearish price action in progress. Next significant support level to watch is
the W1 uptrend support line, currently @ 0.2450-0.2500
D1 : Downtrend resistance line under recovery attack, Watch carefully today's closing level !
H4 : Double top target filled. The H4 support trend line, for the time being, hold, rejecting
the downside breakout attempt 3 times so far. Currently, just above TS but still below MBB and KS and last
but not least, still below the clouds which as you can see, rejected all upside breakouts attempts !
H1 : Warning potential double top (0.3073) in progress. Trigger level @ 0.2862. Watch very closely, price action
over the coming hour (s) which will validate or invalidate this potential reversa formation calling if trigger level
activated, for a move towards 0.2651 !!!
M30 : Currently attempting to hold above the clouds !
M15 : Above the clouds and above the very short term uptrend support line.
Watch 0.3073 on the upside and 0.3000 on the downside as levels indicators for further development.
M5 : same than M15, as a failure to hold above the psychological 0.3000 level would confirm a top in place
and call for a reversal targeting the double top trigger level @ 0.2862
CONCLUSION :
RECENT AND CURRENT PRICE ACTION SHOULD STILL BE SEEN AS A CORRECTIVE MOVE IN A BROAD BEAR TREND AND
ANY LONG POSITION SHOULD BE PROTECTED WITH A TIGHT TRAILING STOP LOSS.
Ironman8848
