Short & sweet this’ll be.
The last mega effect went like that:
Gap to nearby the lower end – cover your directional holdings) at once – scale back in inside the structure in the same direction for up to the middle axle.
Ira always says that a higher high and a lower low is not a trend. There would be a spectacular showing very soon. Weekend incoming.
Obviously, the favored direction would be the continuation of the last move.
I would look at the 14-sample 2.0 std dev window envelope to exit the next leg (either a stall at 1.0464-54 – cyan leg up) or at the 3.5 std dev window envelope at 1.0314 (yellow leg up)