Took a short from 110.13 to possibly catch a C wave of zigzag ABC based on a possible AB=CD pattern...
Could still get it but down move stalled and I like to keep my options open, possible triangle formation is another option...
Therefor open short shift SL to BE and wait to see what develops...
Best long entry at either c or e of the triangle (if it develops into one...), or simply trade the breakout of the consolidation (red arrow)...
For now I wait...
Could still get it but down move stalled and I like to keep my options open, possible triangle formation is another option...
Therefor open short shift SL to BE and wait to see what develops...
Best long entry at either c or e of the triangle (if it develops into one...), or simply trade the breakout of the consolidation (red arrow)...
For now I wait...
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False bullish breakout..., all bets are off for now...
Trendline also broke to the upside, triangle might therefor also get invalidated, a little soon to say but looks that way since the last move went straight up.
Smaller degree correction above the trendline will give us a buy opportunity, we'll see what happens on monday...