If price breaks through trend line and continues to break double top neckline there is a high chance of it falling to 0.9700, confluence of 1.618 fib. If this price is met and does indeed bounce price is likely to retrace back up 0.618 fib before falling back to 0.0 retracement (the latest lowest low) and possibility of falling further to 1.618 fib, 0.9500 area.
Possible 380 - 625 pip move.
Possible 380 - 625 pip move.
Handel aktiv:
Price failed to meet projected low from break of Neckline by 40 pips so that give us a new short entry price @1.0106
Price may retrace back up to 1.0215 so stop loss should be placed above Head and Shoulders @1.0360
TP1. 0.9765
TP2. 0.9607
Price may retrace back up to 1.0215 so stop loss should be placed above Head and Shoulders @1.0360
TP1. 0.9765
TP2. 0.9607
Kommentera:
*Double top not Head and Shoulders