Within the liquidated movement that was driven by the initial bullish impulse, we can see structure is in a short term ascending trend. The ascending trend came about from the impulse made by the sellers at the beginning of September warranting the ascending trend as relief or profit taking. With this being said, we are simply looking for the market to make the first move before any trade idea is to be considered, short term higher highs or short term lower lows. Full analysis on this pair can be found on The Exchange. What do you legends think?
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Comment:
False break of the highs seen. Continuation pattern never occurred after breaking out of the last lower high invalidating the impulse. Continuation pattern was needed to validate the breakout. Structure remains the same.