Adam and Eve formation on a Daily time frame.

Adam and Eve is nothing but a Double Top Formation, where Adam is a sharp move which is a V shape. EVE is rounding formation.

Currently, the price is trading near the Fast and Slow EMA yet not indicating a trend.

Price trading below 6.90 would be a point of action. A price closing below the mentioned level for 15min will be an indicating an entry on the short side.

Momentum Indicator MACD, Macd line has crossed the Signal Line from above indicating the trend is negative.

Hence based on the above technical formation, one can enter short if the price closes below the mentioned level.

Adam and Eve Formation

Jul 13 2023