DOUBLE TOP OR M PATTERN REVERSAL

11 thg 7, 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 thg 7, 2019

Giao dịch đang hoạt động

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

17 thg 7, 2019

Giao dịch được đóng thủ công

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