Reason for the trading strategy (technically):
Price is starting to reverse nicely below our major resistance at 0.7885 (61.8% , horizontal swing high resistance, divergence) and we expect to see a strong reaction off this level to push price down to at least 0.7696 support ( , horizontal pullback support). It’s important to watch out for our ascending support line as only breaking this line would trigger a strong drop.
(34,3,1) is also testing major resistance at 98% and we can see divergence vs price signalling that a reversal is impending. Recent exit of our ascending support-turned-resistance line is a precursor that price is going to do the same.