1.2090 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
. The bounced from the downtrend #1 and it prevented price from more gains.
. A peak is formed in at 1.1840 on 06/07/2018, so more losses to support(s) 1.1510, 1.1440, 1.1180 and more depths is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. ( ) is 37.
There is possibility of temporary retracement to suggested Sell Zone (1.1820 to 1.1960), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (1.1820)
Ending of entry zone (1.1960)
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak", in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
TP1= @ 1.1700
TP2= @ 1.1615
TP3= @ 1.1510
TP4= @ 1.1440
TP5= @ 1.1180
TP6= @ 1.0850
TP7= @ 1.0335
TP8= @ Free