These Pitchforks seem to be telling the story very well. Price is right at the border of the fork coming off the 1.3892 high. If it breaks, then the larger diagonal pattern is likely on. Until then, I am looking for further downside.
My next 80day low is the end of February. If this cyclic phasing holds, then this move up is likely to be a 'b' wave overall, and I am looking for a move down to confirm. If this is a trend change instead, I am still looking for a retracement down in due course.
The move up into 'e' was picture perfect. Will the move down to 'f' '/10 day low follow suit and how will that compare to the last move up?
I have the 3rd/4th February as the next low. Is the diagonal a leading formation or a wave 4/b or is it a diagonal at all? Either way, price action is burning up time going nowhere at the moment.
The key for me is the 10 day FLD - how is price going to get there? If it goes up, it must come down at some point to reach it. To get to the 10 day, price is likely to have to pass through the 20 and 5 day flds.
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