30-Minute Chart - big picture
30-Minute Chart - closed-up
(CLICK ON THE CHART TO ENLARGE IT)# Dailies still favour the bearish with a major Double-Top.
# 30-Minute chart shows 2 Rounding Tops highlighted in blue. The 1st one worked well with prices breaking the top of its dome at 1.4683. The 2nd one has its pull back at exactly 62% fibo of its up move, at 1.4661. But 2 main reasons favour the bearish:
1) The pull back of 2nd rounding top at 1.4661 (62%fibo up move) shouldn´t be lower than the dome of the 1st rounding top which was 1.4683;
2) We clearly see the break of a Wedge Rising formation (see yellow lines).
Points are:
## SELL break 1.4660 with STOP 1.4685 and LIMITS: 1st at 1.4640, 2nd at 1.4615 and 3rd at 1.4590. Lower your stop each time the LIMITS are reached until it reaches 1.4590. Close half units, move your STOP to 1.4640 and set a new LIMIT at 1.4510.
One aggressive entry point would be:
## SELL a failure at 1.4700 with STOP 1.4720. Same LIMITS as above.
If I´m wrong and a bullish trend resumes, then:
## BUY break dome 2nd rounding top at 1.4780 with STOP at 1.4750 and LIMIT at 1.4850.
