This uptrend since few months for me looks like correction before next down impulse. That's why I am prepare for 2 scenario.
Sell stop below trend line and sell limit close to the top where 0,61 fibo is. Right now as you can see we have strong resistance near 0,50 fibo.
TP's are on pic.
Bearish trend since few months is easy to observe. Now price reached main support. We should wait for
corrective movement to 0,7100 area. From there next downward impulse probably will start.
Target 1 is 0.6850.
Sl above previous correction (0,7230)
good luck !
As you all know I like to trade using this simple formation. Now we have next opportunity to good R:R ratio.
Price may reach 18.00 level or even 18.40 in this corrective structure. Be prepare and good luck.
Just remember - I suggest to close all positions before Wednesday FOMC !
My previous analysis worked well, on friday price reached the 1220:
So now we should wait for next up correction movement.
1205/1990 area is good for long position.