Short term long!
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I see the green box as accumulation. Notice the price moved lower neutralizing the weak longs ( Green X). Price moved higher broke above the 1.23553 level and quickly moved back into the green box. This inefficient move most probably caused by the news ( minimum bid rate & ECB press conference)
What I want to see for me to get long.
1.Next week opens, price moves lower and Stop run on Fridays low and quickly moves higher. I will look for Bullish PA to get long. Price moves higher and I will wait for retracement back into 1.23553 level for another position.
2.Next week price opens, price continues to move lower and closes below the most intermediate swing low. I will wait for PA at 1.20891 level
What I want to see for me to get long.
1.Next week opens, price moves lower and Stop run on Fridays low and quickly moves higher. I will look for Bullish PA to get long. Price moves higher and I will wait for retracement back into 1.23553 level for another position.
2.Next week price opens, price continues to move lower and closes below the most intermediate swing low. I will wait for PA at 1.20891 level