NOTE: Small lot and limited risk with tight stop loss
The 2nd leg completed at the 1618 of the 1st leg retrace.
Barb wire dojis show a lot of indecision on the 4Hr.
Strong Bearish divergence on the RSI.
Sold at 103.80 where the 20ema has confluence on the 1Hr chart.
Target at 103.19 at bottom of the channel & 38.2% retrace of the 2nd leg.
Double top formed and the pair retreated.
Bearish Divergence on RSI (further to fall possible)
1H chart currently showing confluence with 20ema
Sell entry 1 = 1.0860/70 strength
Sell entry 2 = Break of low 1.0826
Target 1 = 1.080
Target 2 = 1.0763
Looking to buy around same area for move back up to 1.10786
Major Triple Tap Confirmed
Followed by Picket Fence (multiple equal bars)
The move ended with large bullish engulfing.
RSI Bullish Divergence
A break above Trendline A = Look to buy TP .8436
A break above Trendline B = TP2 .8564
Beware of a minor Triple Tap rejection on Trendline A
If rejected, sell on signal bar and ride to new lows.