As you can see marked out on my charts, the yellow arrows show the top of a massive double-top structure. Both these structures have tested and could not break the 200ema(white line, red arrow) which acts as a very strong support\ resistance.
The second leg of this double top is forming a head and shoulders at the 200ema resistance, and if you look closely, the head of the head and shoulder structure is actually a double top. If you go into smaller time frames you will also see these structures within structures. Its magic lol.
Boost me if you like what I post. Dont be shy
The second leg of this double top is forming a head and shoulders at the 200ema resistance, and if you look closely, the head of the head and shoulder structure is actually a double top. If you go into smaller time frames you will also see these structures within structures. Its magic lol.
Boost me if you like what I post. Dont be shy
Trade active:
60pips drop, some retrace..But we should go down more for the next few days
Trade active:
Second leg head and shoulders starting to play out nicely
Comment:
Looks like we had a stop hunt today, but the head and shoulders is forming even better now, they pushed it up to make a higher shoulder...Still think we will fall. Jumped back in for a sell with smaller lots