Large double top pattern spotted on the NJ higher timeframes spelling out some strong bearish sentiment for the technical heads. As we
know this to be a trend reversal pattern, it's quite a good indication that perhaps we are in the early stages of the new trend. Price
is currently in a corrective structure after a previous impulse-major degree in blue. In the middle degree-Red we've got a possible
3-3-5 Flat correction pattern. Wave 2-Red appears to be formed by a flat top bearish triangle which is a good indication that we may
expect a sharp move to the downside.
Targets:
-68.200
-67.400
-66.900
-66.000 (This may target may be reached after a confirmation of a 4th wave's completion)
If you enjoy this setup please do like and share, I would highly appreciate that. Please do comment if you have a different or similar
perspective on this pair, you're more than welcome to. Happy trading.
know this to be a trend reversal pattern, it's quite a good indication that perhaps we are in the early stages of the new trend. Price
is currently in a corrective structure after a previous impulse-major degree in blue. In the middle degree-Red we've got a possible
3-3-5 Flat correction pattern. Wave 2-Red appears to be formed by a flat top bearish triangle which is a good indication that we may
expect a sharp move to the downside.
Targets:
-68.200
-67.400
-66.900
-66.000 (This may target may be reached after a confirmation of a 4th wave's completion)
If you enjoy this setup please do like and share, I would highly appreciate that. Please do comment if you have a different or similar
perspective on this pair, you're more than welcome to. Happy trading.
Trade active:
Comment:
Re-entry opportunity
Re-entry opportunity
SL adjusted to break even.