Could be a second chance entry into a counter trend long position. but be very careful with that one, the trend is heavily bearish. Would be a nice double bottom in the daily chart also. Stops have to go 15 to 20 pips below X, Target could be a lot higher than the current levels, so I am not shooting for the minimum Gartley Targets (0.382 and 0.618 of AD) but for targets between 1.2820 to 1.32, depending on price action.