How would you play this?
1. There is potential ABCD pattern setting up whitch means buying opportunity. For target you can choose harmonic retracement at structure and selling oppurtunity for potential three drive and then again you can buy this pattern at ratio confluence.
2. If this appears to be ABCD pattern only then there is a cypher pattern whits means...
This pair needs higher high - higher close above 1.6600 to make sure we have a new trend to the upside but there is loads of ratio confluence and structure on the left. Resistance now should become support or at least should identify this level.
If there will be some kind of indication(double bottom/ Bullish divergence on RSI) There might be an opportunity to go long.
We have Cypher pattern and potential ABCD pattern we can use for entry AND along with ABCD pattern completion we have ratio confluence and structure at the left as our profit takeing position.
Realy nice risk reward profile.