Time To SHORT ??

As we surpass the 1.64 mark, I am preparing to establish a long-term short position.

We have now entered a significant monthly supply/sell zone, with the price appearing to be attracted to the 1.65 level. This level also coincides with a robust monthly resistance area deeply situated within this monthly zone.

There is a high likelihood that we are currently in a zone where sellers will begin accumulating positions. We can expect to see signs of buyer fatigue on lower timeframes and sideways movement as we approach the 1.65 level.

I will be monitoring for a signal on my TRFX indicator above 1.64 on the 12-hour and daily charts to initiate a short position. I will gradually build the position if the price continues to climb, as we could witness a quick rise to 1.655 before a sell-off occurs.

The primary target for this trade is the green line on the chart, which represents the previous high in the ongoing upward trend and is now functioning as support. We should anticipate a brief reaction here before the price moves downwards toward the green box area, a newly formed, untested demand/buy zone.

Please note that this is a long-term swing trade idea and could take one to two months to fully develop, but the potential for profit is substantial.