Stop Loss: 109.90
1st Target: 111.60
From what I have labeled. Wave A tends to equal C. If C is shorter than A, expect a strong move in the opposite direction. However, the X label countered the move downward and broke above the end of wave C. I found hidden divergence relating to wave 2 of A and larger trend X wave on the 1 hour time frame, indicating...
I have gotten RSI divergence on smaller time frames, and oversold signals on larger time frames (4 Hr). I believe this is a decent buy area for a potential pullback to 1.0670 area. To follow the trend back down, 1.0670 is another decent RR to short and join the trend to 1.0600 first target.
Bearish 4h descending triangle pattern. Point D may be a possible breakout downwards. However, better downwards potential at the E point. Please let me know if there is anything incorrect, or any other tips. Thank you.