Overall in a bullish trend, we have some price rejection @ .98293, a strong resistance level. We have a few opportunities to capitalize on minimal risk trades above that resistance level to the downside.
1. I have a ABCD pattern with a D completion @ .99170's giving us a 1:1 market ratio move.
2. We have a Gartley pattern completion in the same area that...
This not a Crab and Bfly @ 1618! It is just a weekly 1.618 that is now failing. After 15 months and 2 significant pullbacks, this is officially a harmonic breakout SP500 above 2050! The 2.0 extension @248 is NOW the new target. This is what happens with price action after such a consolidation.
I am still bearish on the Pound.
Even if this will rebound off the brexit news, it should come down for another retest before the big bounce up.
Will monitor 1.3462 area for reasons to go short.
RSI oversold bought is a must on the m15 timeframe.
Bearish Deep crab pattern almost completed, wait for price action and go short.
PS. pattern can be extended as shown to 1.4820. but as we can seen its in down trend channel
