Huge resistance at 1.268xx, very doubtful that it will break, on top of that a trend line. Not the first time ucad hit the trend line 3 or 4 times before it made its move. Expect it to be a bumpy ride down, but a ride down none the less.
Expect to bounce off trend and/or 50% fib and drop down to 23.6%. Put sell limit around 1.33400, SL somewhere above 50%, and TP above 23.6%. Currently breaking the BMI. Swing trade should still be a long.
Hitting some major resistance as well as a strong trend line, showing bullish butterfly on 1h time frame, bullish ABCD on daily but still has the possibility of continuing down. Trade at your own risk!
My prediction is that it'll bounce off of the trend line around 1.80000, head up to the resistance at 1.81500 (blue line), break trend back down to 1.80000, bounce off the back of the trend line then continue down into the supply and demand zone with another support at 1.78000.
Bounce off 50% for the retest, losing more of that bearish strength, leaving a buy limit open around 1.20600. Expect a pullback at 1.22000 due to resistance and most likely being overbought, then lingering in the Supply and Demand zone, losing more of that bullish power, letting the upper trend line come to it.
Let's see what we can make outta this. Buying at market with S/L under most recent low and T/P as follows. All green lines are support/resistance so be ready for a pullback when hit. Would use them as T/P leaving a few pips available.
Currently testing a support and resistance line. Placing SELL STOP around 0.86650 with a S/L at 0.88500 and TP1 at 0.83950 and TP2 at 0.83250. All trades are swing trades, when in profit move your S/L to break even. Not all trades posted are profitable. Trade at your own risk and make sure to USE RISK MANAGEMENT!!!
.01 LOT SIZES PER 1000 USD
Currently forming a triple top to a possible retest at 23/6% and finish a harmonic pattern for more confirmation. Could put buy stop somewhere above triple top and S/L a few pips below most current low. T/P 1 at 1.71950, T/P 2 at 1/74800. Most trades posted are swing trades and not always profitable. Take at your own risk.