Same Post as before but just on daily outlook, I'm personally with #1 but here are my 3 strong resistance area/zone in confluence with the zones you see on the chart in which I may see a reverse back down.
According to My analysis I have Three areas that may act as Strong Resistanc. that's if this pair retraces that high...
My 1st place of entry will be at #1 I will look for a price action Signals at that level/area but if the markets smashes through I still have two in the chamber to press sell with any addition ...
Even if Price closes above my Ellis Zone I'd still be look to short this pair but a close above/restest of the RED area will invalidate the move to the down side & I may need to check my weekly chart on this pair.
TP @ 120. price handle
Ideally I'd like to Enter in the Ellis Zone but as long as it stays contained in my Potential Reversal box= (yellow box) then i'll still be looking to short this pair but at the same time I would like to see a price action signal within this box.
should this play out my TP would be @ the 120. price handle
I'll be looking to short this pair around ( 158.147 - 162.410 )
that's my Potential Reversal Zone.
Stop Loss is up to traders Discretion but I'll be waiting for an Appropriate Stop Loss 'IF' Price gives me a Signal
in my Potential Reversal Zone.
T.P @ 151.400