GER30 (4HOUR) POTENTIAL DOUBLE TOP FORMING 450+ PIP POTENTIAL
GER30 looks set to have reached overbought conditions,
with multiple confirmations resulting in my short position,
1. A critical level being reached resulting in the beginning of a double top formation,
2. Overbought levels with a divergence imminent,
3. 200ma acting as a key target level at 3 with near to 500 pip potential.
Risk management level put in place to confirm. Waiting on price action and a break of the trend line to confirm the position.
with multiple confirmations resulting in my short position,
1. A critical level being reached resulting in the beginning of a double top formation,
2. Overbought levels with a divergence imminent,
3. 200ma acting as a key target level at 3 with near to 500 pip potential.
Risk management level put in place to confirm. Waiting on price action and a break of the trend line to confirm the position.
Note
Pattern appears to be completing its final stages of the double top.Trade closed: stop reached
Trade invalidated due to stop lose being breached.Note
Price action and bulls are in control now, awaiting new signs of potential reversals.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.