Price has previously bounce on the 38 level and has now temporary formed a Double Top at the previous Resistance. I'll be expecting a shift of momentum to the downside as part of the deeper retracement.
I'll wait for clear market structure to form on the Lower TF before looking for a setup.
Bias = Bearish
Structure = Double Top, Potential to form range
Setup = Fib 2.0 second bounce
I'll wait for clear market structure to form on the Lower TF before looking for a setup.
Bias = Bearish
Structure = Double Top, Potential to form range
Setup = Fib 2.0 second bounce
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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.