Thought i already uploaded this pair, seem to have forgotten to do so.
We failed to close above the MID price of previous day (Red horizontal ray)
We retested head and shoulders neckline and failed to close above it.
Measuring the distance we can see a final target at 0.7000
Risk reward is good so i'll be looking to trade this on Tuesday dependant on Monday's close
-If correct price action presents itself i'll be looking to take shorts on Monday
The double top was a clear indication of further downside momentum.
First target at previous low 0.705 as we could come into turbulence with ascending TL so a clean break of it would
warrant further downside projections.
STOPS 10-15 PIPS ABOVE PREVIOUS DAY MID AROUND 0.7205 ishh
Trade safe, just look for confluences and trade em'
We failed to close above the MID price of previous day (Red horizontal ray)
We retested head and shoulders neckline and failed to close above it.
Measuring the distance we can see a final target at 0.7000
Risk reward is good so i'll be looking to trade this on Tuesday dependant on Monday's close
-If correct price action presents itself i'll be looking to take shorts on Monday
The double top was a clear indication of further downside momentum.
First target at previous low 0.705 as we could come into turbulence with ascending TL so a clean break of it would
warrant further downside projections.
STOPS 10-15 PIPS ABOVE PREVIOUS DAY MID AROUND 0.7205 ishh
Trade safe, just look for confluences and trade em'