Possible double top

20 באפר׳ 2022

A possible double top that may lead to a bearish reversal sending the EUR down. Around 75% of the time double tops lead to bearish movements and about 83% of the time they break the neckline. Usually strong bullish moves leading to the second peak force a strong downward movement. Looking at the 4hr chart the trend is moving down with the 20 moving average crossing below the 50 moving average.

21 באפר׳ 2022

הערה

Like I mentioned before 83% of the time after a double top, the drop breaks the neckline. In this case it almost touched the neckline but there was still a drop after a period of consolidation. Who ever went short like I did got some profits.