Expect for price breakout. Buy above : 1.10900 Sell below : 1.10349
To be honest, I dislike the S&P perspective right now . I think the price has extended beyond the bearish point, which is a mistake. The hike is still happening in the near term and the global slowdown hasn't gone away, all the other markets are being pushed solely by the S&P strength and I find this a bad pattern. Also, the chart seems to show a bearish flag,...
The initial breaker setup seems to hold true. Time to short this asset down to its resistance. See related idea for more details.
As seen in ICT Market Maker 5 video, the breaker is a way to shake weak hands while giving fuel to a trend by raiding stops. Here, it seems a long has been used by bears to raid short stops marked by X symbols. These will probably be sold around the red dotted lines at the original price to resume the downtrend.