A larger bat pattern has formed, which is the one I will be taking. Scrolling left, historical resistance & support is also visible.
A bat has formed pending a completion at the D leg. Take your pick.
The market has kept making lower lows, and lower highs keeping the short term bearish rotation intact. Price action has just double topped at our previous outside return. Moreover, a potential bearish cypher is in play providing additional reasons for entry.
The 0.382 was already hit on the cypher, but this could be a good way to use the cypher as an alternate way of entry to shoot for extended structural target. good trading.
The underlying trend on the EUR is bullish. The trend on the hourly which is the day trading frame is as well bullish. Drilling down to lower time frames is an effective way to find a reason for entry, which is what was done here. A potential 3-Drive pattern on the 15M completing at previous swing lows on both day trading frames, and swing trading ones, good RvR,...
A bull cypher has formed,making it a level to potentially take profits.