Hey Traders!
Some interesting price action on EURUSD! Our indicator gave us a short signal based on what looked to be a double top pattern, and strong momentum candle breaking & closing below the previous swing low.
However, it found a support level, and reversed. It seems to have broken out of its current holding pattern to the bull side. Seems the short signal was a fakeout! These are not uncommon, and is always something we must prepare to deal with as traders.
This can always be mitigated with solid risk management practices.
Will price continue long here? Let me know your thoughts below!
EURUSD
Some interesting price action on EURUSD! Our indicator gave us a short signal based on what looked to be a double top pattern, and strong momentum candle breaking & closing below the previous swing low.
However, it found a support level, and reversed. It seems to have broken out of its current holding pattern to the bull side. Seems the short signal was a fakeout! These are not uncommon, and is always something we must prepare to deal with as traders.
This can always be mitigated with solid risk management practices.
Will price continue long here? Let me know your thoughts below!
EURUSD