Uptrend looks corrective and weak atm. I was hoping to get a good entry based on the Gartley drawn on chart but we might be going down already... So, possibly we'll see downtrend continuation soon until either the larger TF (4H) bat or H&S pattern completes (trendline below, see my 4H analysis...).
Technically the Gartley is still possible, but in that case we will also break the down trendline so atm I'm counting more on a simple breakout scenario...
Tricky to pick the target for a short: 4H bat completion technically at min. 1.1260, max. 1.1237, TP1 for daily bat at 1.1247... My long entry for the blue 4H bat is 1.1250... Safe target for short is therefor 1.1262 for me...
Choose wisely or pass if it doesn't feel right...
4H bat or H&S (close to completion):
Daily bearish bat (TP1 coming up...):
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Anyone who took the short breakout: take (partial) profit if you haven't already, SL to BE.
I entered a long just now with SL below the low of today..., will trail SL to BE at 1.1250