The results of the italian referendum caused a massive drop of price, which broke below the corrective structure it was moving and what we now see is that it is in a pullback testing the broken uptrend (the lower bond of the correction). We might have a couple of ups and downs till price reaches the upper parallel of the new median line set i have draw where we should watch for a sell setup to complete in order to go short.
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Price has broken way above upper parallel with no setup formation so this idea is no more valid