DOUBLE TOP OR M PATTERN REVERSAL

11 Tem 2019

After a considerable bullish run for the EURAUD to its peak it has carved out a double top or M pattern.. After the pattern had been breached we believe the pair is in a reversal mode has the potential to move downwards. Yesterday price action carved out a bearish pin bar close to the support of the double top or M pattern which is now acting as resistance.

The bearish pin bar around the resistance area supports our conviction to go short @ 1.61461 . SL @ 1.62592 above the resistance TP 1 @ 1.60572 with TP2 @ 1.59185

12 Tem 2019

İşlem aktif

first target done...... All eyes on Target 2

17 Tem 2019

İşlem elle kapatılmış

trade closed at 1.5995........... bullish pin bar suggesting the pair will be bottoming and moving to resistance area before falling further to 1.59185