Reason for this is a low which is hitting structure and at the same time triggering the fib 61.8 of last upswing.
I know that it is a falling knife, but I entered on lower time frame M5 with a tight SL at 0.7144.
If downtrend will continue a small loss will be realized and I will re-enter only if a clear uptrend is visible on lower timeframe.
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Falling Wedge pattern. Interesting to see is also that today´s candle might close with a daily doji candle. Let´s collect further probabilities to find the right long set up.