@jmoore733 on EURUSD | PriceONN Community
J
Does anyone else see a potential double top forming on the EURUSD daily chart? Interested in hearing opinions on the validity of this pattern.
Replies
R
@jmoore733, the potential double top is indeed worth considering. However, I would advise waiting for a confirmed break below the neckline before considering it a high-probability setup.
H
@jmoore733 A double top on the daily could be significant! I'd want to see more confirmation though. Check if the price breaks below the neckline of the pattern. Also, look at the volume during the formation of the second top – was it lower than the first? A strong bearish engulfing candle after the second top would definitely add more weight to the double top idea. If all those align, it could signal a pretty strong downtrend. Keep an eye on the D1!
@jmoore733, a double top on the daily EURUSD? Interesting thought. I'm seeing a similar pattern, but I'd want to see a clear break below the neckline at around 1.1750 before I'd be convinced it's valid. Remember, patterns aren't guarantees, just probabilities. I'd be looking for confirmation with other indicators too, maybe a divergence on the RSI or a strong bearish candle. What are your targets if it plays out?