EUR/USD intraday upgrade gt;
I discovered potential toping activity on EUR/USD close to the degree of 1.1670. I marked letters on the chart and this is explanation gt; I detected 6E EUR/USD futures chart gt;
a - Wide spread of this bar closing on the cover of the bar within an ultra-high volume (Buying climax)
b - Down bar closing on the low at a very large volume. If there was strong buying on the previous pub the bar can close on the reduced and with rather large volume, It has to be a weakness.
C - The slim spread of this bar closing at the middle with a minimal volume. No demand - no professional interest for higher prices.
D - Offer at a high volume just after the no demand (no demand confirmed)
Based on market profile, there's weak opening to the NY session and potential rotation. Notice that sellers did a turning near precisely the same degree on Friday.
Feel free to post comment along with your own trading thoughts