I added to my original position that was at the top.
I will take partitial profits at the PRZ area, here is why.
The PRZ is the level where the reversal may happen. It is a confluence of:
-New Monthly Pivot.
-Weekly S1 Pivot.
-.618 Fib retracement
- even number .98
-The projection of the 200 SMA on the 4H chart is somewhere there as well.
If the level holds price may tag the 1.0000 level where a lot of people will be interested in trading.
If the level does not hold I will be looking for a pullback into the area to sell again. Target will be the the Monthly S1/ Weekly S2 zone at .97000.
Major trendline is broken. Price came to the PRZ level, touched the monthly pivot and bounced right back up. Again I banked some pips by closing half of the added position from yesterday. I'll wait for another shorting opportunity.
A nice RSI and MACD Divergence is forming on the 4h and 12H chart. Let's see what happens.