FX:EURUSD   Euro / U.S. Dollar
267 2 9
This leg up within this trading range is quite strong. That not withstanding, successive bars tend to overlap each other, and have tails above, and tails below, and thats equal to a weaker leg in a potential trading range. I would like to bet on a breakout failure here. We're within 10pips of testing the April 12 High of 1.1464
I would be looking for an evidence of higher prices rejection signal to go short from this KEY ZONE, such as 1B, 2B, 3B candlesticks reversal patterns.

UTL=UpTrendline = A line from the Lowest Low, upward and to the highest minor low point preceding the Highest High so that the line does not pass through prices in between
these two points.
DTL=DownTrendline = A line from the highest high point downward to the lowest minor high point preceding the lowest low so that the line does not pass through prices in between these two high points.
SX/BX =Sell Climax/Buy Climax
BOL=Breakout limit (Determined when price seize to make a new high/low in 5 bars since the last high/low following the initial rally/selloff after TL BO)
LH MTR = Lower High Major Trend Reversal = Leg up following the BOL             gets close to BX            
HH MTR=Higher High Major Trend Reversal = Leg up following the BOL             exceeds BX            
LLMTR = Lower Low Major Trend Reversal = Leg down following the BOL             exceeds SX
HL MTR= Higher Low Major Trend Reversal =Legdown following the BOL             only gets close to SX
TR = Trading Range (Tradable legs implied)
The Logic
1. Trend trading until the weight of evidence tells of the absence of the trend.
2. And to trade the potential legs within the trading range, when price finally breaks the trendline , and enters into a tradable trading range, until there's a trading range breakout- continuation or reversal.
Comment: Nice gap up!
This is what I'm expecting now . Until I see a valid signal of 1B, 2B, 3B calling for a HH MTR. Im not shorting yet.
Comment: Im looking for something like this
4H 1B. Im waiting to see this confirm by next bar close, since it's got a bull body. PATIENCE!.
1H view
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