Time To Bail? Distribution Megaphone At Top Of Channel
Updated
Euro is at top of a number of downward channel trend lines and is printing a megaphone pattern. This looks like distribution as the larger traders dump positions into the order book and widen its range.
Selling from the top of the day here could be a very good swing position short. I also have a short bias intraday.
Selling from the top of the day here could be a very good swing position short. I also have a short bias intraday.
Note
Sunday and it's opening with a big gap up so the bears have yet to appear.
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