TradingView
vj20_fx
May 14, 2017 8:08 PM

Possible Bearish Momentum Forming Short

Euro Fx/British PoundFXCM

Description

Price has just made a LH from the Bearish trend where price bounced off the trendline to the pip. This pair has now formed a Doji following a very strong bullish movement which is showing indecision and the momentum weakening. A reversal here is high likely. The W1 TF formed a 'Hanging Man' Candlestick last week indicating bearish momentum could be following. Price is also sitting on a major H4 resistance line giving stronger confirmation of possible downwards movement.
More