Supply zone between 1.0012 and 0.9965 as highlighted on chart (blue box). Price collapsed from this level before which means there is unbalanced buying and selling power. Now price pulling back again and is potentially going to make Elliott wave 5. This eclipse with harmonic bat pattern and the sell is likely going to take place at 0.886 retracement which is 0.9980. I only recommend to wait until price come up to this price and take the short only if buyer 1) can not make higher high and 2)make a V formation ( also commonly known as the M top shape).
Please do not take limit order straight away as the buying power may not stop at this level and continue to go up. If that happened this sell opportunity is gone. Only enter with confirmation.
good luck
Please do not take limit order straight away as the buying power may not stop at this level and continue to go up. If that happened this sell opportunity is gone. Only enter with confirmation.
good luck
Trade active
Comment:
stop loss to break even, reduced 1/3 Lot and keep the remaining running