Note: The S/R levels (i.e. likely bank trader order levels) as depicted in their respective timeframes in this and prior articles have not changed, and will likely NEVER change regardless what happens in financial markets. What follows is my own world view, developed from an institutional trading career dating back to 1995.
The pullback up to 1394 occurred and my short was stopped out at 1397.
If spot really is taking a breather, price may try to test 1419 support to target 1416 and then 1410.
For some more context, here are the H4 and H1 charts:
From the H4 chart, a 3rd peak is forming to complement the earlier double top.
If this peak turns out to be an even lower top than the prior two, I’d be inclined to short at 1425 (SL at 1428) else I’d go long on any convincing break upwards from 1436.
Surges like the one that took spot from the yellow box into the blue box (from the H4 chart) tend to behave like gaps.
Consequently, gaps tend to “want” to be closed.