Looking at W1 chart we see price is bouncing from a strong level of S/R
- extremely overtended and crossing MA
- Stochastics pointing down
Here at D1 chart we have a relatively rare chart formation used in . When a diamond top forms, it forms at the conclusion of a long uptrend in price, and it indicates an imminent reversal of the trend. As such, the diamond top formation generates a very strong sell signal.
We have also:
- up broken
We can enter on candle close below pattern or sell right now based on H4 analysis.
First target would be 1.1500
Ideal target shown on chart
A conservative entry would be to wait for a break below low point, its your selection.