We just made a double top and now waiting for the price to pullback. We spotted a parallel Channel and we are expecting price to move close to the bottom line of the Channel. We need a move downwards to confirm the reversal of the trend.
RSI : RSI lines crossed and we are looking for a reversal of the trend. Also RSI above 70 means Overbought.
MACD : MACD is less bullish than before and we are waiting for lines to cross to confirm the reversal.
ATR is 120 PIPS
Entry : 93.3
Target : 86.5 ( Almost Bottom line of parallel Channel )
Invalidation : 95.65 ( 120 PIPS higher above last Higher High )
Ratio 1:3
RSI : RSI lines crossed and we are looking for a reversal of the trend. Also RSI above 70 means Overbought.
MACD : MACD is less bullish than before and we are waiting for lines to cross to confirm the reversal.
ATR is 120 PIPS
Entry : 93.3
Target : 86.5 ( Almost Bottom line of parallel Channel )
Invalidation : 95.65 ( 120 PIPS higher above last Higher High )
Ratio 1:3
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