If I was super aggressive I'd go short now, but I personally will wait until it breaks the orange level to short :)
Defo will wait for a good PA signal as well
I expect a bounce from the trendline into the resistance area, then a price freefall into the support area.
First support area is first profit target.
Second is the second
Blue level is a weekly support.
Green is a daily level.
Yellow levels are 4h levels
Looking for a break of the yellow then the blue level to short (will need a retrace obviously)
If it fails to break looking to go long, need more PA confirmation though
Yellow levels are daily support and resistance.
Red levels are h4 support and resistance.
There are two possible trades here, if PA suggests when the price trades up to the red level that there are loads of sellers I would short.
Otherwise if the red level breaks (which I think it might) that level is essentially useless to me as it was previously...
Currently resting/breaking yellow support, will wait for a pullback then will hopefully short all the way to the level of 1.42230 that's profit target 1.
Profit target 2 is 1.37812 :).
To reiterate I'm not taking a position until there is a pullback!!!
