1M
Huge shooting star rejection at 1.3700 for this month which still has not closed, after a bulling rally.
1W
3 weeks back we had a shooting star form followed by a bullish engulfing which closed slightly above the 1.3700 resistance. This week the current candle is a bearish engulfing with rejection on the 1.3700 again. This week we have taken out last two weeks worth of candles.
1D
Lower Highs and higher lows are being formed on the daily time frame. Once this broke to the downside I took the high of the formation and added it onto the chart to give me target 2. This confluences with previous support and resistance.
4H
EMA crossed and broke the trend line, this trend line has now had 2 retests.
1H
Zooming into 1 hour the 2 retests have formed a double top. I took the high of this double top and this gave me target 1. EMA also has crossed to the downside. Counter trend line has also been broken.
Huge shooting star rejection at 1.3700 for this month which still has not closed, after a bulling rally.
1W
3 weeks back we had a shooting star form followed by a bullish engulfing which closed slightly above the 1.3700 resistance. This week the current candle is a bearish engulfing with rejection on the 1.3700 again. This week we have taken out last two weeks worth of candles.
1D
Lower Highs and higher lows are being formed on the daily time frame. Once this broke to the downside I took the high of the formation and added it onto the chart to give me target 2. This confluences with previous support and resistance.
4H
EMA crossed and broke the trend line, this trend line has now had 2 retests.
1H
Zooming into 1 hour the 2 retests have formed a double top. I took the high of this double top and this gave me target 1. EMA also has crossed to the downside. Counter trend line has also been broken.