We became bearish as soon as we broke the resistance area. It means that we have a higher probability of going down than up. Once we decided what side of the market we are likely to stay at, let's see what bearish signals we can get at the required area from our trading system on lower timeframes. A bat pattern is a very nice signal. I'm not looking for some huge moves. A retest of recent lows (almost 300 pips) will be more than enough.
Lower than 1.9011 is rather unlikely but we'll see.
I want to short this one as well, then buy once the retracement slows down as long as above 1.89643.
Alexander_Nikitin
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It's seen on daily that we are making lower lows and lower highs. This probable downward movement shouldn't be considered as a correction. It should be considered as an impulse. To catch this impulse is the core idea of my analysis.
IvanLabrie
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I'm thinking the move down is a correction from a larger uptrend, but either way...let's short and make some pips ;)
KevinSinghDhaliwal
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around 1.9070 or towards 1.8950?
Alexander_Nikitin
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it's more then a 50% probability that we'll come to 1.8950. But keep in mind - it's only a probability.
I want to short this one as well, then buy once the retracement slows down as long as above 1.89643.