I had previously sent an updated about the impulse target, here I have added the parallel channel to further reinforce the top of the channel trend line.
We are reaching a all time high not only in price but also in relative strength and the volume for buyers is fast running out.
When we reach the top of the channel next week I will look for a bullish reversal candle. Then I will open a sell order and put my SL about 20 pips outside of the channel.
To play this extra safe I would wait towards the end of next week before entering or even week 34 on Monday.
We are reaching a all time high not only in price but also in relative strength and the volume for buyers is fast running out.
When we reach the top of the channel next week I will look for a bullish reversal candle. Then I will open a sell order and put my SL about 20 pips outside of the channel.
To play this extra safe I would wait towards the end of next week before entering or even week 34 on Monday.