US30 has formed a potential Double M (double top) pattern, indicating a possible bearish reversal. Price has tested the resistance zone twice and failed to break higher, suggesting weakening bullish momentum. If neckline support breaks with volume confirmation, this could present a shorting opportunity targeting lower support levels.
Watching for a retest of the H4 resistance level on gold. If price confirms it as support, the plan is to enter a long position, aiming to capitalize on a potential bullish continuation.
Sell Limit: 1.57025 Stop Loss: 1.57025 Take Profit: 1.55400
WATCH OUT FOR EITHER THE BREAK OF THE DAILY SUPPORT TRENDLINE OR REVERSAL ON THE WEEKLY SUPPORT (GOING LONG).
Retest of the trendline. USD Index also showing a weakness of the $$$$ this upcoming week.
1.Resistance Approaching/Approached. 2.Double Top ("M" Pattern)