The pitchfork in the chart is constructed with the action-reaction principle. The Stoch warns us of a continued downward action. I earlier said in a larger time-frame view that it is unlikely for the bears to break the horizontal support down; now it doesn't seem that unlikely. So we are waiting for a good battle around that line. I will not change my opinion, which is bullish, though, unless I see that the LMLH is broken.
Comment
⋅
The hourly view:
Trade active
⋅
LONG! After a nice visiting of the old top, I am up for throwing the dice for this pair to refurbish immediately above the weekly support.
Comment
⋅
I have taken the profits now, waiting to re-enter.
Comment
⋅
I was being very amateur with the temporary T/P. Anyways, now it seems the hourly chart shows how smart money comes into the arena. I will re-enter as we see the correction to the beginning diagonal.