May I ask you a question, just for curiosity (I'm here to learn before even thinking of taking a trade ) ?
The 1565 seems to act as a strong S/R.
Looking at the monthly, I would think of a price breakthrough and close below before entering short and targeting 1510 and 1450 or so (do not have my MT4 at hand right now...).
But looking at the weekly, there is a nice bullish PB on the S/R, suggesting, if it breaks, a move toward 1630-1650. On the other hand, this PB is in a wedge (am I right?), suggesting this bullish move might not reach higher prices.
So, if I was to take a trade in this situation, I would think of first taking the break of the PB toward 1630, knowing it might not be a very strong move.
Then, I would wait for a bearish move breaking the 1565 S/R, and wait for the close of the monthly below the line to enter short, heading 1510 and 1450.
Does this make any sense?
Thanks a lot for your help!
Slow & steady