As you can see, if it touches the 38.20 and bounces back then this is a very good selling opportunity. Also if you look at the 38.20, i have put down a purple line right on it to show the support/resistance in the past. This also shows a strong indication that it could bounce off the 38.20 resistance line.
Comment:
I have put my SL 20 pips up from Entry
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Ignore that comment (written on the wrong graph)
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It has hit the 38.2 Line which indicates that this is about to start heading down
Comment:
It has Hit Take Profit