Double top pattern has formed! Possible scenario:
Retest ~6780 EUR, Stop loss - 6630 EUR,
- If 6780 EUR is not broken down, it might jump back to 7600
EUR, and retest it (Take profit zone - split or full).
- If 6780 EUR is broken down, potential next retest level is
6000 EUR (Stop loss 5800 EUR
In my opinion, a perfect head and shoulders pattern is forming. Still a chance to take a small profit at approx. 7600 EUR, then next level to buy in is at approx. 6000 EUR. Hope it plays out as the last forecast did. :)
It's very likely that the pattern might complete. Pay attention to the neck line - if it's broken, then plan you trades accordingly.
Targets:
If the neck line (at approx. 7000 EUR) is broken down then the possible bottom or next entry might be around approx. 5800 EUR.
