EURGBP on weekly has showed weakness conformed by down bars.
BAR A, Two bar reversal at market top
BAR B, Down bar which conforms the two bar reversal sign
BAR C, Down bar with high volume conforming break out of low of two bar reversal
I suggest selling this pair on any upthrust of daily or h4 time frame with target 0.8800 and 0.8550.
Stoploss above BAR A.
Follow...
Welcome to MSCapitalTrading, We provide any kind of Technical and Fundamental Analysis for Forex and Indices, Commodities, CFD and Stocks Markets every day.
DAILY
Multiple Inside Bars + Small Pin Bar have been present since last week, A Breakout of mother candle would impact to more downside.
NOTE
Always take 1% risk on each trade for capital...
Last Friday SPY had formed a very large 2 bar reversal from a key support and resistance level. This could see prices rotate down towards 2600 before potentially finding some support. As this market has been strongly bullish , caution is more than warranted if you are looking to short it. Although, this looks to be the best bearish setup that I have seen since the...
As you can see on the chart, there appears to be an inverse head and shoulders pattern that has formed. It has now been followed by two bars mirroring each other to the point that I would think it to be a reversal to turn into a down trend. I'm definitely gonna sit this one out, but what do you think? False inverse head and shoulders or a false two bar reversal?...
