Potential double top on the H4 Time-frame - Weekly analysis
Updated
1760-65 could be the best sell zone, but there's no sign of a valid strong rejection candle yet. This week we all waiting for a robust incoming catalyst; US Flash PMI, Final GDP, Jobless claims, Bank Stress Test Results, and the US PCE
The previous analysis (June 19, 2020) failed, last week Powell gave a strong reason for Bull to hold their trade over the weekend. Last week before the market closed, we tried to sell at the sketchy trendline 1743, but unfortunately, the market was open with a gap up to 1750 as I predicted.
PS: This analysis fail if the H4 candle can breakout and close above 1765. Please don't trade this analysis blindly
The previous analysis (June 19, 2020) failed, last week Powell gave a strong reason for Bull to hold their trade over the weekend. Last week before the market closed, we tried to sell at the sketchy trendline 1743, but unfortunately, the market was open with a gap up to 1750 as I predicted.
PS: This analysis fail if the H4 candle can breakout and close above 1765. Please don't trade this analysis blindly
Trade active
Back again to the sell zone at 1765 Trade active
Just in: US Jobless claims 1480K
Final GDP -5.0%
Durable goods order 15.8%
Core Durable Goods Orders 4.4%
Note
U.S. Federal Reserve Announces It Will Cap Dividend Payments And Bar Share Repurchases In the Third Quarter For 34 Largest BanksTrade active
Just in:USD
Core PCE Price Index m/m 0.1%
Personal Spending m/m 8.2%
Note
Breakout or rejection? Time will tell
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