looks to continue down to the 1.13 area. Since a shark
can have a D point to the 88.6 OR the 1.13, we have to watch closely what price does at the 88.6 point. Since we didn't see a rally up after hitting the 88.6 we could see some more downside to the 1.13 level. Yes we can have a double bottom
possible form at the 88.6 but let's watch price to see what she does. On the Daily time frame we have a reversal pattern ( bearish engulfing
) so this does signify that we can see some more downside.
If we hit the 1.13 area, that level is a QP at .7500 and this is where we can set a buy limit or use price action to enter into the trade.
TP levels are fibbed from the C to D and are TP1 38.2 and TP2 61.8