Since the start of 2016 price has been inside a , price is currently at the top of this and thus provides a nice short opportunity. Price has failed to break the top resistance/ level, furthermore this area falls between the 0.618 and 0.786 fib extension zone. Stops should be placed above the . In my opinion this set up has 3 targets, the first is to the Green , once this has been broken the next target is to the red followed by the grey .
Comment: Looking to take profit at profit target 2 (red line)