Price retraced back to 61.8 % of Fibonacci and monthly resistance.


It looks like to good opportunity to short it exactly here. But when we move down to 4h chart, we don’t see any obvious short signal.


Even more, 4h chart looks that price want to go even more up. So I noticed, that next short option to watch for is at blue trend line and 55 EMA (1). Next maybe even more possible option to short I see at WPP, MPP and 78.6 % Fibonacci retrace cluster.

To short it, I would at least want to see some bearish price action signal at marked spots on 4h chart, so it could be pin bar, fakey setup or bearish outside bar.


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