Description
⋅ • Monthly Top in place at 1.42 historical Resistance with a bearish reversal candles pattern
• Sep Bearish candle with higher volume
• Weekly uptrend lost momentum and correcting
• Weekly support zone at 1.3350 to 1.35 "Green zone"
• Daily bearish double top pattern
• Daily bearish wave formation with target at 1.33 100% fib extension "Blue zone"
• 4H Resistance at 1.3660 (50% fib ret) then 1.3720 (61.8%) "Red Zone"
Bias to downside
Plan to sell high
Comment
⋅ COT report of last week shows bearish bias, as non-commercial traders are more short than long and last week they added more short positions
Comment
⋅ COT report shows bullish bias for USD index
Comment
⋅ I may not post new trades as i am already in short positions since last week