I also take into consideration the according to Dr . and his importance on certain time cycles. Sept 22nd is historically, according to Theory, an important date for some violent trend reversals or trend continuations. So that would help confirm the probability of some continued momentum.
We do have some very low areas at 116 and 108, if price does indeed move in the path of least resistance, any break to those areas would more than likely cause some heavy movement in either direction.
There is more risk and reward to go long here. We have been in a long downtrend since the start of the year and people with longer timeframes looking for a pullback to go short again could be waiting above. There is continued reasons for being on this pair.
This idea is a continuation of the long positions that is still active from the idea on 09/11/17.