We can see a very strong structure trendline that is holding price in a bearish trend. Price is back at this structure and is forming a double top. If we get good entry criteria on lower timeframes price could at least reach 0.61480 and at most reach 0.51880 if our pattern is right.
Note
As we can see the bulls are still in control of this market so I'd stay away from any shorts until we get a clear structure break down.
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.