Commentary: The bearish count that we presented yesterday treated the rally from 2.0353 as a double zigzag. That rally has changed into a triple zigzag. “Under the bearish count, the decline from 2.1160-2.0522 is wave 1 in a 5 wave bear cycle. The rally from 2.0522-2.0844 is wave 2. The decline from 2.0844-2.0504 is wave 1 of larger 3.”
Again, the choppy rally from 2.0353 to 2.0831 can be counted as a triple zigzag, which fits as wave 2 of larger 3. Wave 3 of larger 3 may be about to begin now. If so, then price must remain below 2.0844 (preferably 2.0831) and the downside is much greater. Reward/risk favors bears.
Strategy: Get bearish near 2.0680, against 2.0831, target much lower