EURUSD Short-term view within longer-term bearish view 1hr chart

Price action can turn around at any price point between now and the blue point 'C' and then move up toward the blue 'D' to complete a bearish Gartley. If price action continues to fall beyond the blue 'C' to the pink 'C', it might turn around and move toward the pink 'D' to complete a bearish Cypher. Both patterns would complete around 1.11900, at which point I would enter short for a sharp drop. I intend to enter a quick long scalp when price action reverses toward 'D'.

Let's see if either patterns plays out.

This is not trading advice.

Comment:

Looks like price action is favouring the Gartley. Lots of economic data expected for both currencies in the coming hours.

Comment: