I keep showing this daily chart with Bearish divergence.
Since I am a big fan of Divergence, I still think the price should go down a little further… at least down to 55EMA (192.00 ish), or possibly down to MPP (191.00 ish).
Here is Hourly chart, and this looks very bearish, riding 5EMA ! Also notice the price broke Support and 193.00 Psychological level.
Here is the entry (M15 chart above). The price may go up a little high, but I would like to short from Fib38.2-61.8% level.
The target is 192.00 which is the next level of support on H4 chart.
This is the Beast. We have to take care with the extra care, you know! 🙂 Please please make sure the price action on M5 (or M15) is in sync with your direction, before entering the trade.
(Sorry, my post was a bit too late. Now only 25 min before London Open)
Hope this helps you build up your own trade plans.
YJ Baik – Forex.Today @ Tokyo