We saw continued strength yesterday after the FOMC meeting with prices pushing through the 5/14 high and more buyers so far today. We reached two more upside targets and closed out of the aggressive position @ 1.5800. Also, we now have a new dominant structure as the time range has exceeded the original one by 2x. I've redrawn to demonstrate. It has a neutral retracement and neutral (11:12) skewing. There is a smaller pattern within this bigger one with a very deep retracement and left handed (1:3) skewing.
Here's what's remaining from my original analysis:
Current Positions:
**moderatively aggressive: @ 1.5356 with trailing stp @ 1.5615; tgt @ 1.5953
Closed Positions:
**conserative: @ 1.5374 with stp @ 1.5193; closed @ 1.5625 for Profit
**aggressive: @ 1.5286 with stp @ 1.5073; closed @ 1.5800 for Profit
Potential Upside Targets:
1) 78.60% Level: 1.5659 (tgt met)
2) 5/14 High: 1.5800 (tgt met)
3) 2.618 Level: 1.5834 (tgt met)
4) 1.00 Level: 1.5953
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