I'm long. Let's see if it works.
Now we have to see if it's a Cypher (red) or Shark (yellow). Both valid.
either smaller crab & TL or a bit bigger bat will provide a strong bounce IMO
Let's see if it can bounce here in potential shark's B PRZ. Could get a crab trajectory on way up.
hmmm... I hope it doesn't happen. But technically -> down. Double pattern confluence - Bat + Butterfly, 1hr. Has to break 80.67 & 80.78 to really invalidate. But could provide a nice right shoulder for inv H&S too... so I'll be buying the dip.
Playing short here to get to bottom of channel
I'd be looking to play it like this.That is IF we break to the upside.
All in pic. I'd be glad to hear your opinions, especially if they're against my thinking...
All in the chart... If you have questions or want to discuss this - find me on twitter @abgarman
The way I see it. But anyway - down to 115-116
Short term bearish. We might revisit 1.3092 even. there we bounce hard or fall hard. But pullback imminent after 250 pip rally in such a short term