EURUSD Sell IdeaD1 - We have a big cycle, we also have a head and shoulder pattern and price broke below the neckline. We may now expect this pattern to be duplicated. The 50% retrace of this big cycle coincides with the projection of the head and shoulder pattern.
H4 - If the price pushes higher then look for divergence to form. If that happens then we would expect the price to respect the downtrend line and also the high.
H1: The neckline of the head and shoulder pattern acts as a resistance now and we have the 61.8 and 100 fibo near this. We may now expect false breaks, trend line breakout and then sell.
Alternative scenario: If the developing triple cycle turns out to be a triple cycle , then we may get one big wave up o the trend line and then look for sells.
