(1D, $EURUSD)
{#1D, 
EURUSD}
{Previous Price Action}
last moves in the previous week was trending down as long as the general price movement is descending, as a result of most of the recent negative news, the trend has stabilized supported by high bearish volume leading price to keep selling-off.
{Current State}
price pulled back from 1.11712 at 10/24 and made another pullback from the same level to confirm the double-top pattern while neckline was already made after first pullback around 1.10742 which is significant level based on previous price action. after break the neckline price found S-level at 1.09970 in order to pullback for retest.
{The Plan}
in case the neckline isn't strong enough to reject the price next target could be the R-level or the same level of the pattern, but if the retest end up successfully I'll start looking to short and trade following the general price direction after the Daily TF confirm itself as bearish trend .
[Original post] https://stocktwits.com/itsFiras/message/184059815
{HQ Chart}
EURUSD}{Previous Price Action}
last moves in the previous week was trending down as long as the general price movement is descending, as a result of most of the recent negative news, the trend has stabilized supported by high bearish volume leading price to keep selling-off.
{Current State}
price pulled back from 1.11712 at 10/24 and made another pullback from the same level to confirm the double-top pattern while neckline was already made after first pullback around 1.10742 which is significant level based on previous price action. after break the neckline price found S-level at 1.09970 in order to pullback for retest.
{The Plan}
in case the neckline isn't strong enough to reject the price next target could be the R-level or the same level of the pattern, but if the retest end up successfully I'll start looking to short and trade following the general price direction after the Daily TF confirm itself as bearish trend .
[Original post] https://stocktwits.com/itsFiras/message/184059815
{HQ Chart}
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