This level since November 2023. I have been waiting for the break as it should be the first sign of what comes next. This is a backwards adjusted chart, however, it is likely confirming the market high from last Friday. A close below this level today should began the clock on the prior analyses attached to this idea
Price is under bearish divergence. There is strong resistance on the way. If we get one more top on MACD histogram near the trend line and the resistance zone marked on the chart preferably with a false break we can go short.
Final target would be the 50% of the whole move
The plan here is very simple but it might require some patience on your side.
1. Wait for bearish convergence to be formed
2. Wait for double wave correction
3. Find a sell entry after the double wave (bearish divergence, bearish candle pattern)
Target 1: 1.4300
Target 2: 1.4150
Stop Loss: Above the last high created before entering a sell trade or above 1.4700.
