There is nothing new under the sun.
On the weekly this pair is currently in a downtrend. Price is resting at a critical resistance level. The will tell if either:
- the 382 holds, hence the pice forms a double top and then continues its downtrend or
- the price will form a complex pullback in form of an ABCD pattern and hence provides an even better short entry price or
- the price will change into an uptrend
Only time will tell. Nobody can know at this stage. Choose a side and be prepared for any case.
On the weekly this pair is currently in a downtrend. Price is resting at a critical resistance level. The will tell if either:
- the 382 holds, hence the pice forms a double top and then continues its downtrend or
- the price will form a complex pullback in form of an ABCD pattern and hence provides an even better short entry price or
- the price will change into an uptrend
Only time will tell. Nobody can know at this stage. Choose a side and be prepared for any case.