(Click on the attached Daily chart to enlarge it)
This Diamond Top seems that it´s still in place. Stochastic favours a possible major Bearish move.
But after last week´s move some caution is required here. As the current phase of this Diamond is a Symmetrical triangle, the break of its lower trendline is required to confirm this pattern.
We also have very important support areas close by. So my strategy will be to enter SHORT at the break of the following supports (if you cannot get into the trade at these breaks, enter SHORT at a pullback to them...): 1.4290, 1.4257, 1.4237, 1.4207 and 1.4191. All with tight STOPS. If these entry points work, keep moving the STOPS in your favour aiming the following LIMITS: 1.4050, 1.4008, 1.3877, 1.3830 and projected LIMIT for this Diamond: 1.3750.
