SELL | Technical & Fundamental Reasons Below * Double top, two 4hr pins * 50% Fib Retracment * Expecting USD Suprise Sales and Unemployment
Target * Triangle Breakout Length 130pips * %50 Fib Rectracment of yearly high
Risk Reward 1:4
Comments
dojitrader
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Just to clarify my thinking on what you're saying . . .
You contend that 2 - 4 hr bars completes a double top ?
Thanks for your thoughts !!!!!
Best wishes on this trade ~~~~~~
FaultyKid
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Not yet, waiting for the current 4hr bar to close below it's open. And if it does then I'll go short. Correct me if My terminology is wrong?
Thanks
dojitrader
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Yes, terminology is what had me wondering.
For me a double top needs at least 3 bars down and then 3
bars back up,,, on any time frame.
Your idea is tradeable should this pair reverse before it hits
the trend line and selling the collapse of this candle would
catch that move. I would be more inclined to wait and sell
the point of the big arrow on your chart where resistance
is greater. But, as I say, your idea would possibly catch
an early reversal.
You contend that 2 - 4 hr bars completes a double top ?
Thanks for your thoughts !!!!!
Best wishes on this trade ~~~~~~