We have a CYPHER pattern .And a reverse H&S in it.That give us two entry for SHORT.
Will go for second entry if price reach the X level. RSI currently overbought.
Nice risk and reward.
And we might have a completion of Elliott wave 5 on a D1 chart.
@gaff_xec, Hi,thanks for your comment.I think there is a high possibility that price will hit around 1.20850 before heading down.So if your margin is enough to support your opened position i don't think there is a problem.All you have to do is wait.Even better if you can open another short position when price hit the top.
Have a great year ahead. :)