EURUSD made a new Higher High. Now, looking at the daily, there are two possibilities, all of which work with us in confirming our sell bias:
1. On the daily price is at the point where a double top is possible - which as you know is a reversal pattern.
2. Following basic market structure, we still should expect a retracement before any further move to the upside is made (Even if EURUSD is now bullish)
On Friday we had a nice Pin Bar closing, which basically confirms our bias for the sell trade. We can now just scale down to the 1hr and look for entries. If you want to be conservative, you can wait for the next daily candlestick close but by then it MAY be too late.
1. On the daily price is at the point where a double top is possible - which as you know is a reversal pattern.
2. Following basic market structure, we still should expect a retracement before any further move to the upside is made (Even if EURUSD is now bullish)
On Friday we had a nice Pin Bar closing, which basically confirms our bias for the sell trade. We can now just scale down to the 1hr and look for entries. If you want to be conservative, you can wait for the next daily candlestick close but by then it MAY be too late.