EURUSD: Downtrend continuation play

FX:EURUSD   Euro / U.S. Dollar
818 43 13
As described in the chart, we have a potentially very bearish outcome for this pair.
I'd suggest waiting for the uptrend timer to expire for entry, but we can short aggressively under the highest low if we so desire.
I'll wait one more day, there's no rush and it's good to be methodical.
Initial target is the 1.06141 level, where we had the highest low in the downtrend. Once that level's taken, we can expect the move to continue to the 1.01-0.9 area.
Good luck traders!

An alternate count would be that the triangle started on that WXY move up, and will shoot down resuming usd strength.
We will have to watch it unfold to confirm either thesis but know that price action will be choppy and no trend trading methodology will work well until this pattern is unfolding.
Forming a triangle again, probably two more smaller swings down then up before the downtrend resumes.

IvanLabrie IvanLabrie
Multiple trends, symptoms of a triangle...really hard to navigate these.
A retracement would be a good short entry now.
HiTech IvanLabrie
Looks like we have quite a bit of downside potential here

Updated view. Downtrend signal invalidated, correction will be bigger.
If 1 week above the yellow line we can expect to hit the targets above by April 27th.
If target 2 is not met, it'll reverse down to retest the lows.
IvanLabrie IvanLabrie

Revised projection, preliminar for now.
Buying a dip into the triangle zone is a safe entry.
Invalidation under the red line.
Interesting correction today...time is running out for shorts too.
I covered 90% of my position last night, woke up to a big move up as I expected.
Price action hasn't been bearish enough to warrant a big short.
Let's see how it unfolds but we might not see the lower levels hit at all possibly.

Time and price target in chart, expect a bullish reaction on April 6th.
Good call mate!
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