Last week price action completed the and just feel shy on the . Both
patterns so close together gives a good area to enter short.
The end of last weeks price action confirmed that this area is likely to be a good potential
reversal zone. Additionally, we have divergence on the and this is a move
back into the underlining .
Initial targets could be the standard .382 or .618 fib retrace of CD leg, However,
all of this factors lining up together suggests to me that we are liking heading for a
retest of the July lows around 1070's.