ahmad_naquib

ahmad_naquib

I believe the double top is happening and the price might fall down until it hits 0.618 fib ratio

ahmad_naquib

As u can see, I have drawn some support and resistance level. My prediction is as shown on the yellow arrows.

ahmad_naquib

On the daily chart, the wave tends to go upward. But if we changed it to 4H timeframe, u will notice that the trend is going downward.

ahmad_naquib

Entry - 1.12071 Stop loss - 14 ATR x 1.5 = 420 pips below entry Take profit 1 - 420 pips Take profit 2 - 840 pips Take profit 3 - 1260 pips

ahmad_naquib

I believe the formation of a double top is happening. If my prediction is wrong, likely the market is continuing uptrend.

ahmad_naquib Updated 

In my humble opinion, I believe that the market will be ranging for quite some time, before going long again. The red zone is my estimation where the market will continue to range. Plus ADX indicator shows below 25 which means the market is not in trend.