We have the EU and the pound correlating at a potential P5 . As the potential top came in a little early and hit the Upper MLH I am going for an ambitious short with a tight stop on the EU at around 129220 . Lets see what how this unfolds.
Note: If entry price does not activate and price moves sideways past the red downward sloping reaction line, I will have to cancel trade and wait for another entry.
For those who use forks: If you focus on the upward white pitchfork, This fork was drawn after P4 confirmed notice how shallow ( the pitch ) of the fork is, this is an early indication that if prices begin to respect the parallels ( which they did when it reversed at the upward parallel ) that prices where going to drift up & down SLOWLY within the fork until they left ( See lower parallel as soon they closed on the other side of it, the move down was quite rapid and was an excellent short at that point.