#XAUUSD forms a double top on daily chart. Now price on the neckline level. Let's see if the price make it or break it!
Important thing about double top pattern that it become validate after the neckline break. many traders open a position after getting a double top. But this pattern only make valid after neckline break.
So if the price don't break the neckline ...
GBPJPY now at critical area. I'm waiting to see what price acts on 143.70 zone. Either price forms a bearish price action and go down. Or break the 143.7 zone. If break I will be on long position. Target level will be 145.70 & 148
I'm going short on cable. Let me describe the reason:
1. Long term downtrend
2. Price breaks bull trendline
3. On a retest price makes a hammer
I'm going short from 1.2860 zone. My Risk and reward ratio is 1:4