The weekly has presented a double top on the right shoulder at a key level.
The daily is a little messy but looking at the 1h we can see why.
The 1h has created a triangle with a fake out on the 16th. Now im looking for a retest of this pattern along with the 0.869 level and 1h/4h 50 ema.
The stop is above the downwards trend line and exit is just by the daily 50 ema. I only want short term trading on this pair because of the upwards trend line on the weekly and the possible break and retest of the dailt 50 ema.
The daily is a little messy but looking at the 1h we can see why.
The 1h has created a triangle with a fake out on the 16th. Now im looking for a retest of this pattern along with the 0.869 level and 1h/4h 50 ema.
The stop is above the downwards trend line and exit is just by the daily 50 ema. I only want short term trading on this pair because of the upwards trend line on the weekly and the possible break and retest of the dailt 50 ema.
Comment:
Currently im still holding this trade. Price hasnt shown us a clear direction on intraday and we still have our bearish weekly and daily. If we get a break and retest of the 0.869 to the upside, i would look at getting out because price has created its first higher high and higher low.
youtu.be/Jj_IBMjaGhM