EURUSD, 4hr tf, double top / bearish flag in play
Hello my friends,
Today we are going to trade with EURUSD.
As you can see price has been moving up respecting the ascending trendline for 1 week.
Today price finally closed below it on a 4hr timeframe and it also looks like price making a small double top pattern.
This could be a bearish reversal pattern so we are going to try selling EURUSD now.
If you look at daily tf, you cold also see that previous daily candle close looks like a bearish pinbar or shooting star candle.
Based on DXY as well, there is a potential DXY making a double bottom so we will try selling EURUSD as this pairs are mirrorring DXY movement.
Sell EURUSD 1.1865
Stop loss 1.1905
Take profit 1.1705 (4R)
RR Ratio 1 : 4
Use only 1-2% risk
Good luck
Today we are going to trade with EURUSD.
As you can see price has been moving up respecting the ascending trendline for 1 week.
Today price finally closed below it on a 4hr timeframe and it also looks like price making a small double top pattern.
This could be a bearish reversal pattern so we are going to try selling EURUSD now.
If you look at daily tf, you cold also see that previous daily candle close looks like a bearish pinbar or shooting star candle.
Based on DXY as well, there is a potential DXY making a double bottom so we will try selling EURUSD as this pairs are mirrorring DXY movement.
Sell EURUSD 1.1865
Stop loss 1.1905
Take profit 1.1705 (4R)
RR Ratio 1 : 4
Use only 1-2% risk
Good luck