We have a classic Double Top forming here - The strength is weak, suggesting that it will not break higher before it breaks lower. Also, we have a classic Tweezer Candle pattern sitting right at a resistance. These factors put together make this an obvious short. That said, I'm going to be waiting for one more weak candle close before I go short. Play this smart people!
Coming off of this double top, we need to look at this crucial level. Depending on how the candles behave in the next few days, we might have a profitable bounce on our hands. I will be updating with candle analysis as we move forward. Just remember, trade after confirmation of the move! Don't waste your money betting just to be up 20 pips.
Check out our focused...