• Weekly bears also testing a weekly Quasimodo resistance at 1331.0.
• H4 61.8% Fib resistance line at 1337.9 sits just above the daily Quasimodo line.
• A H4 at 1339.9 seen above the aforementioned H4 Fib level.
• H4 approach which tops out at 1335.8.
The green box on the H4 chart is, as far as we can see, a very high-probability reversal zone since it shows a strong band of confluence! Therefore, we will be looking to short this unit at 1332.8 with a stop-loss order placed above at 1341.1. The first take-profit target will depend on how the H4 approaches as we usually look to take partial profits at the first area of demand.