So today's move for me confirmed we're back in a downtrend. The daily retested the lower TL of our June bull trend as resistance yesterday. It got rejected. We've now broken through the neckline of the double-headed Ghost/H&S pattern and a close below it, which looks probable at this point, will be good confirmation.
I'm looking for a retest of 1.5460 where I'm putting a short entry order. Target 1.5400. We bounced off there today. Not sure if it breaks tomorrow or not. Will have to wait and see. If it does then we could see 1.5340 as the next major support level.
I'm looking for a retest of 1.5460 where I'm putting a short entry order. Target 1.5400. We bounced off there today. Not sure if it breaks tomorrow or not. Will have to wait and see. If it does then we could see 1.5340 as the next major support level.