High probability for PA to retrace to 0.382.. . .if PA rejects from 1.195-1.197 we would probably see some lower levels tested till that monthly trend line. - which also is 0.618 of the main impulse.
On the other side if PA breaks 1.197 convincingly then anticipate a bullish impulse up to 1.25-1.27.
REASON for LONG or Not ready for SHORT :
1.200 - EMA bullish cross
2.(0.618) retracement of EW of the larger degree
3.Next resistance/sellers volume is around 1.62 zone
4.PA needs momentum to break that support zone
Note: Valid until PA remains above 200-EMA.
Price action rejected BAT PRZ.
Better to wait for price action to test ALT-BAT PRZ.
Sell from 1.996 - 2.013 region with SL - 2.03. . . . . .TP- 1.96. . . .1.94.
Scalp sell can be from Bat PRZ.
Trade safe and follow money/trade management.
1.Last wave structure is a completion of wave 5 of Elliot wave.
2.RSI showing Bearish Divergence on Daily-TF.
3.PA showing signs of exhaustion.
4.SELL LVLS-153.35 ----SL-154----TP1-151----TP2-149---TP3-147