It appears like we have formed a balanced distribution after the lowest low in the recent selloff.
Despite this not-falling situation, rgmov continues to suggest the enviroment is overall , so I'll look into fading exremes in lower timeframes, using and Rgmov signals as confirmation.
Pattern traders might find an abundance of patterns with the PRZ near significant profile levels, like the high and low nodes.
It's interesting to note that the 10 period moving averages of the highs and lows are , and that the speed lines drawn using the 0.5 and 0.618 levels, and the highest and lowest price from the top as reference contain the bars in the advance as well.
Hope you find this of use, regards,
Time at Mode FX
After such a low volatility streak, visible in the BB squeeze in weekly and daily timeframes, I believe shorting this (buying volatility...) or shorting equities is a good idea. Specially under the strong profile levels from where we observed range expansion, while weekly and daily rgmov are in a downtrend.
I don't think the target at 114.17 would be hit, but it's worth considering it for TP.