There could be a potential BO right. Caveat. For pattern traders (like me) I would like to take a long opportunity on the pattern completion. Which is a bullish Cypher Pattern that will complete at 0.8250. Stops would be below X point. TP1: 0.8570 TP2: 0.8598
Take note also of a potential Bearish 5-0 Pattern, a Z pattern for reversal of trend. Entry would be on the D completion on the 50%-61.8% of BC leg. With that. There could be a completion also of shark pattern at 88.60% or 113%.
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On the daily outlook. As you can see price approaching the lower TL, will it break or make?
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If it breaks the lower trendline (i need a candle body close on the lower trend line) i can go short and take targets on the zone.
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We are halfway to TP 1. Good call trades on the EUR pairs. Check my published Ideas. We got a winning on the EURJPY and EURUSD.
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If you have taken LONG on the Bull Shark at 0.8473, TP 1 and TP 2 is already attained. In this case. We got stop out as we entered on the Bull Cypher.