We can see in the weekly timeframe, price wasn't able to break the resistance and rejected several times until last week still unable to break the resistance.
Weekly candle also forms pinbar. For entry with candle formation like this we can wait for the price to retrace up to 50 percent which is structure resistant on smaller timeframe.
prepare a sell entry when...
Price break trandline and look like chase the upside structure as the upside target.
and potentially complete Butterfly and AB=CD Pattern on the structure.
will consider to short on the PRZ
Price break support minor after make a double top and pullback to neckline area.
prepare sell position on neckline retest or around 61.8 level to use 2618 trade setup.
stop above double top.
target on chart
Price potentially make a Cypher pattern. complete pattern will be retest the previous struture resistant at 78.6 level.
find rejection on that level to short.
stop on red line with 2 targets below
Potential movement for this pair is still to the downside.
price make a lower lower but still not tag the bottom yet, will look for some pullback to short.
pullback to the blue structure also completing Bearish gartley
On this sideways condition we can take upside and downside trade.
after tag the top, we can expect price will drop again.
target on chart.
stop above the high
