as it usualy does with EUR-USD ....
However I think other times the trick is to put it so easy and clear in such way traders will be afraid and not sure as they
used to complixity !
I say this introduction for this chart now is perfect chance let us consider the following:
1- on daily the impulse wave are finished since 23-06-2013 , then the smart money did not let it go down A-B-C
as usual giving the chance to all the small fish to eat... otherwise he played it differently and gave this pair what
we call as (conilidation) so that traders will get bored at this pair and look away , at the same time He the SM
will gather huge lots of this pair before lunching the big fall.
2- ,Fisher, and all show the higher highs \ lower highs which is a divergence signal.
3- the (upside down thumbs) indicates how price kept failing to go up which make me assume
the existance of double tops pattern.
4- On weekly chart you'll find the price stucked at that resistance for the last SIX weeks.
so even if it will keep conilidating selling at the top of is a good entry :)
take also this nice info:
on weekly this same area played nice resistance on:
Also you may check on monthly chart: 1-03-2011 & 1-08-2011
( give those dates a look and see how strong they acted).
DO YOU THINK PRICE NOW WILL BREAK ALL THE ABOVE RESISTANCES WITH THE DIVERGENCE ???