Commentary: Wave c of the flat is underway and price must come under .7435 before we can begin to look for a bottom. Near term, wave i of C looks complete.7507. As such, a corrective setback to the .7671/.7773 zone (38.2% -61.8% of .7937-.7507) would offer a high probability short opportunity. However, wave ii might be complete at price has been unable to push through resistance at .7586. We are showing the 15 minute chart this morning.
Strategy: Get bearish in .7671/.7773 zone, against .7937, target below .7435