at the completion point of a larger, daily , (both
creating a possible price reversal zone-red square), was sharp
which suggest a taking out of the low, 1,3832. The mini target of
the larger Daily is 1,3763 which coincides with the
extended 1,618 target of the top, smaller . Now, IF
price takes out the top, 1,3965 everything points to an
extended D point in the larger (1,272 or 1,618
extension of the CD leg. Note there is also a weekly
in play, not shown here. So 1,3965 is crucial for
ST outlook in this analysis. Looking at Price action on
friday, a large hr candle to the upside suggest an extended
D point in the small , at 1,3950. Considering all these
patterns, if price turns down from this level,, it is a good
R/R trade to short with a stop above 1,3966.
Avoid shorting if upward move is fast, then wait for
it to stall before entering .