Price went up into my sell zone (the green box), but there was no reversal, so I'm still on the sidelines. Price did break above previous highs and invalidated the patterns on that time frame. Now we're seeing a sideways consolidation on the 30m chart where previous resistance now appears to be support.
On the daily chart, you can see several respected S&R zones (green lines) and this is right where the current battle is. There is some divergence appearing on the higher TF RSI too.
- Looking higher, we have a very significant big number nearby at parity 1.000.
- There is also a Daily TF Gartly Completion at the moment (and still valid)
- If price goes higher, ill then look for sell opportunities at 0.9970, stops above 1.000. This is my preferred outcome and would give a much nicer risk:reward.
- If price goes lower, ill enter a small short position and see if it holds at the .9940 resistance line.
No rush, wait and see. Stalk the trade.
