Possible Bearish Cypher Pattern. Could bounce off trend-line or reach point C.
Looks like the pair may be having other ideas on the weekly chart.
Sorry guys, I should have posted this one instead. sorry. E wave remains the same though...
Possible Bullish Butterfly formation. I think price action should at least retest point C or exceed it, but we have to monitor for its turning point.
I guess the CD leg should be more aggressive than this, but for the sake of drawing.....
This has me a bit perplexed about the pair. What is the likelihood of the pair just going straight for E? Am I justified that it may want to retest D first? That bearish candle makes me think it may. I can also be wrong..
Possible Elliot wave. I wonder if it wants to retest point C if it is really going down. We have to be careful with corrective waves, they may evolve into different patterns.