Price has followed the alternative path in taking another leg higher. Now price is stuck between 2 contracting trendlines and a breakout to the downside is expected.
Thanks for your comment! Yes, you are correct, but the only problem is the place of the candlestick pattern, it is not really at a major top. But nonetheless it shows strength for the bears. Important is now what happens at this support level around 1.3000.
hello ..
ReplyDeleteEur / usd had also a negative weekly close forming some sort of a bearish engulfing pattern ( not ideal but negative for buyers )
http://s7.postimage.org/8ch7doah5/image.png
hope you all the best my trader friend ..
Hi !
ReplyDeleteThanks for your comment! Yes, you are correct, but the only problem is the place of the candlestick pattern, it is not really at a major top. But nonetheless it shows strength for the bears. Important is now what happens at this support level around 1.3000.
Friendly greetings,
Jeremy
yes Jeremy that is why i am saying it is not perfect and now the market has opened with a gap about 50 pips ..
ReplyDeletelet's see ..
Regards ,,