this is on of the pairs i'm going to be looking at over the next days. And the reason why is pretty simple to explain: if you go on the daily timeframe you'll see price is dancing around a very important level of structure (yellow box) and in doing so it has created a bearish engulfing candle pointing downside (in RSI overbought conditions). If we lower timeframe (1H) you'll see that the engulfing candle is in fact a double top with a break of structure to the downside, and that gives us a strong signal of selling pressure. So at the moment i'm waiting to see a retracement to the 618 level in order to trade it like a 2618 trade. Stops and targets as shown.
If you have any idea/question, feel free to comment below. Otherwise, see you in the next chart!