DislikedWe have reached a 50% retracement of the last part of the leg down.
Maybe a good place to look for a short trade.
Personally I will wait for another attempt to take out the 50% retrace, in other words I will wait for the close of the next 60min candle not the close of the current one.
I do have an order in the market to enter short lower down using a different method.
Edit 8.35am NY time Market is currently at 1.4910 and is showing a bit of strength after spike down to 1.4814 at 2am NY time. I believe that the market will turn up in the next 24 hours