Not a lot to add to last night's post: price has ground its way up following an impulsive one from 1.3126; sits at the weekly regression perimeter with overbought SMI clusters; has successfully backtested both D3 & D5.
It has actually made it above D5 and perhaps thinks it is going onwards as discussed over the weekend, but not without some respite me thinks and the weekly regression median line looks a good target for my shorts, as it did yesterday.
I still reckon a 'b' of 'b' maybe a possibility, to keep the above chart forecast in play, although we could be straight into a 'C' here and now, so keeping my eye on how the SMI cycle and price action develops from here.
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