We have a potential AB=CD pattern here as a correction to the medium term down trend. Possible double top formation at resistance to bring price back down to close the gap, and to play the channel. With all of the French election activity being priced in already, move downward here can be probable. Will play the short, but the move long term is long.
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Looking for a deeper retracement into 139.329. On the monthly, this would be the neckline of the double top on the weekly and daily. The rejection here would bring the move up to break through resistance at 148.
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Waiting for the long entry at 138.825.
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We have a breakout of the descending trendline from the highs of the recent down move, indicating bulls are here. However, the we still have not broken for higher highs, and rather posted a lower high. So, this is a setup for bears to step in. Right now, if we go into a lower time frame, we can see price is stuck between resistance and support. I think we're going to bounce off of this level and go for a double top, and to retest the minor trendline price broke out of and back into. The retest will bring price back down to support, meanwhile breaking the minor support trendline. On the 1HR, this may look like a double top and confirmation break of the neckline. Price will come back up to retest the support trendline that it broke, and will send this back down to retest the breakout level on the daily TF, which is also a level of confluence. From there, we can go in long again for the long term because price should not come back to that level again.
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If price bounces from the red line, then that'll be our higher low post, which will be the early stages of our bull trend upward.
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long from here. price came down to retest the broken trendline. Came to a low point, but did not break below the low of the breakout candle. With the close of the 4hr candle, we can try to take this long from here.
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Still long here..but waiting for the short entry, for the retracement. We'll be playing in this large triangle until the break out to the top.
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3 drive pattern on the 15 min