EURUSD - Forecast and points of interest 14/10/19
Updated
Entered daily resistance & price looks like potential short formations are developing.
2 Scenarios I am watching.
A) Price goes back up to retest the high, in which case I watch for a valid (as per my trade plan) double top. (Yellow arrows)
B) Price hits short term support = deep retracement = presence of sellers above, in which case I watch for the formation of a valid (as per my trade plan) head and shoulders in marked zone. (White arrows)
Will update post as we go.
2 Scenarios I am watching.
A) Price goes back up to retest the high, in which case I watch for a valid (as per my trade plan) double top. (Yellow arrows)
B) Price hits short term support = deep retracement = presence of sellers above, in which case I watch for the formation of a valid (as per my trade plan) head and shoulders in marked zone. (White arrows)
Will update post as we go.
Note
Heading back into shorting zone nowlooking for trigger
Trade active
Note
Short still in play
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