Break and retest of 4hr continuation pattern. There was also a massive double top inside the continuation pattern and price broke and closed below the neckline. There was massive volume that came in on Friday in the form of an Upthrust on the 1hr timeframe which sent price down and now a 50% retrace of that move to has caused price to reject of the 50 fib and 50 ema level putting in another upthrust and a confirmed bearish candle after. I’m expecting price to trade lower to 1.60000 if it all plays out accordingly.
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No.1 Protect Capital - So stops currently at breakeven and taking partial profits if price gets to 1.61150
Comment:
Partial profits taken
Comment:
Stop Loss currently at - 1.60983