The current setup is framed on 1. Friday's consolidation 2. Today's (Sun) impulse rally away from consolidation 3.and bias that price will move up before Tues London. From here I am looking for price to attack the recently created gap (recent impulse to upside 15m) and reach at least the 50% level of Friday's consolidation before giving more impulse movement to the upside. I have set a buy limit above 1.14450 as well as a stop around 1.14400. Even though I have drawn my gain for 70+ pips, I will only shoot for 50 if the trade activates. This trade is counter trend but with recent range created to the downside it is reasonable price would make a pullback before going lower.
Beyond Technical AnalysisTrend Analysis

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