1b.The additional option for the path taken through '1' is a break and retest bullishly to the upside to 112.050 above those highs, where liquidity is at and a possible scaring of sellers whose stops are waiting to be taken.
2. The label suggest that the holds, (very unlikely) and continues down. Anything can happen thou. Again I think the is too steep for such continuation.
3. (Inside ) A term I use to suggest what price is now forming. A higher low(HL) form with a well established low. Here is where we may find this momentum mention in 1.
All in all I'm a scalper of the market. Where ever the tide flow I will evaluate closely and trade accordingly.