I have chosen this X leg as the impulse leg based on our previous structure level.
This is a very respected level of structure in the past if you follow price back you will see how price reacted at these levels.
We will see how price reacts but I cant see it going beyond 1.57000 before some sort of retrace.
Keep your eyes on this hopefully we can find a reason for entry when we get to the 88.6%
Previous Major Resistance
should be very O/S
This is providing us with a lot of confirmation and close to Major FIB EXT 1618
The reaction at that level bringing it right inline with the 88.6% is a great sign.
Good Luck and happy trading guys.
I'm a bit worried though about your entry level, the X of the bat could also be drawn higher and then your .886 level for D will also be higher (and better R/R wise)...
My preferred entry to trade off the bat currently is 1.5740. I can then place my SL above the high of August 25th and still get good R/R.