We got the drop we expected, but it was quite shallow. And worse, the hourly chart above closed over the 8ema and the ADX crossed to the upside.
On the other hand, we're still under the 50sma, under the Trend Line, stochastics aren't oversold, the 124.26-123.06 gap hasn't been filled, and the up bar was the last hour of the day, which could have been short day traders taking their profit.
Its not the best looking chart to be in a short trade, but its too early to abandon the position.
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