EA is respecting the huge downward parallel channel. Been watching it since the large wick in January that touched it the the T. The legs down and the legs up on the daily have matched till this point (I cloned them).
So I am expecting the next leg down to hit 1.6 which is confluenced with an SND area that hasn't been mitigated on the weekly and is a psych level. Also, It seems to be making similar move to what it did in the past - Drop then lower high double top and then more drop. On the 4hr we have been ranging and now making smaller candle sticks at bottom of range which further increases my bias for this breakdown to happen soon.
So I am expecting the next leg down to hit 1.6 which is confluenced with an SND area that hasn't been mitigated on the weekly and is a psych level. Also, It seems to be making similar move to what it did in the past - Drop then lower high double top and then more drop. On the 4hr we have been ranging and now making smaller candle sticks at bottom of range which further increases my bias for this breakdown to happen soon.