Pair has reached a short term top and started moving downwards. I want to see the price going a bit further inside the sell zone as shown in the image below.
There is also a down trend line from the highs which will meet the price approximately at the same zone. Price is currently developing a divergence. Ideally we want to see this divergence being completed inside the sell zone.
Keep in mind that this setup is valid as long as last high around 0.7220 holds.
Use 0.7090 as target. Protection should be placed above the trend line and last high to be created.
There is also a down trend line from the highs which will meet the price approximately at the same zone. Price is currently developing a divergence. Ideally we want to see this divergence being completed inside the sell zone.
Keep in mind that this setup is valid as long as last high around 0.7220 holds.
Use 0.7090 as target. Protection should be placed above the trend line and last high to be created.
