Looking at the 4 hour chart we have found resistance at historically strong support and resistance zone. Price did not manage to close above 1234.00 despite several attempts. Right above us we find a 0.618 fibonacci retracement .
Looking down at the hourly we also see a 2618, a double top (which also can be seen on 4h) followed by a 0.618 retracement after breaking to the downside, passing the "V" point of the double top .
I take this as a first, of two, possible entries to sell. Target 1220.00
Lets see how we do
Trade closed: stop reached:
First entry, unsuccessful. I will monitor this since we are now in the second entry zone. If I get signals here, I will enter a new short position, published on a new chart.