today i will be caution on day trading this pair due to massive over bought and DIVERGENCE on 4H and 1 hour chart.
because we have no ceiling at this point market must create a reference level and to do that it must retrace, take out some buyers, pull back, consolidate and then break the Brand New Ceiling.
so this RSI divergence is my signal to HOLD ON, take some...
after 5 days of bear move this is just a correction of the market.
NOTE: Remember all that we have not had a correction since 2011-2012
so we will see at least 247 level in near future before moving back and breaking the last high
Price been moving base on support and resistance and Fib levels
and we also have a obvious ABCDE pattern.
Ignore the short callers while this is where they need to BUY their shorts to take profit
SO you need to be a SELLER for them to take profit.
Adding to my long around 4.80 zone ( with a nice buy signal)