So we may have a potential garley pattern in play which i plan to take the short, given some confirmation. However an elliot wave has been formed which may take the current wave higher.
A close above the previous peak will prompt me to change my outlook from short to long
Following the harmonic pattern, price has retraced and penetrated and also rejected the 61.8 fib retrace (golden ratio) and 200MA, price may go to test the region again break above and fail or start its decline. My entry is highlighted by the blue rectangle, stops above the high of the blue box.
Risk = 2%
US DOLLAR has end its EW3 and corrected itself in an ZigZag channel pattern (EW4), this may have came to an end and EW5 may be a foot or it could touch the highlighted reversal zone again. Will look for possible entries on major pairs, to increase the odd i'll look at pairs that are fundamentally divergent too.