looking at the 4H chart you can see a double top forming, price hasn't closed above the double top since 20th march. I personally don't see this as a valid setup and won't be taking the trade unless we see a strong close below 146.27. looking at the daily chart we could still push further up as Fridays candle has closed quite low so I am anticipating movement...
What we see is the formation, on the fifth bullish wave, of an interesting double head and shoulders.
The two neck lines, in addition to being in parallel, have already suffered a breakout. Now we are in the pullback phase.
a great time to get into short on about 200 pips.
The reason why im short on this market is because its in a downtrend then suddenly it rallys up. the market then gives a sign of a bullish rotation such as a new structure high outside return and then another new structure high, however i dont think that the market is going to contine going up and the advance cypher pattern is going to be my reason to go short,