On 13th Jan, 2014 the structure 170.39 was broken.
Price immediately traded back above this structure failing to make a new high.
On 24th Jan, 2014 this structure was broken again.
Price again traded above the structure and again failed to make a new high creating a pullback zone of 171.440.
The structure was broken again on 29th of Jan with more success creating a new structural low of 164.27.
We now see price coming back to the pullback zone of the 171.440,
failure to trade above this point is a big sell signal which could take us to 164.27.
NOTE: This set-up is only valid if price is unable to take the 171.440 area.
Price immediately traded back above this structure failing to make a new high.
On 24th Jan, 2014 this structure was broken again.
Price again traded above the structure and again failed to make a new high creating a pullback zone of 171.440.
The structure was broken again on 29th of Jan with more success creating a new structural low of 164.27.
We now see price coming back to the pullback zone of the 171.440,
failure to trade above this point is a big sell signal which could take us to 164.27.
NOTE: This set-up is only valid if price is unable to take the 171.440 area.