This ABCD pattern compliments the previous breakout to the upside.
Pennant/flag break out to downside on 1 hour. Short for 1.29589
I'm waiting too see a 1 hour close above this triangle / pennant formation before going long, I can see this next rally surpassing the previous upper trend line.
If the pair closes above the pennant formation, will be a good buy opportunity. This pair is currently in the process of forming a c-wave that could extend up to 500 pips. Good luck out there.
I'm long on this pair, a break out from the blue line may fuel an upwards impulse that also breaks the upward trednline.
For the more aggressive trader, you may want to short at the upper trend line, alternatively wait for lower trend line break and correction before entering.
Waiting for lower trend line contact before going long. Target at 19.9