Is the $EUR/USD Setting up a Massive Short Signal

I drew a "M" pattern using the Ichimoku Cloud on the 4 hour Bar and I think that the $EUR/USD could break to the upside and test old Resistance which is now the new support at 1.35582. The EUR/USD was in a clear Bull channel, but then the channel broke. It has now moved sideways, but I think that it could be about to break to the downside. If the EUR/USD break 1.37, then I think it could sell off 150 Pips in a hurry and not find buyers. I am looking to Short it until I see the break on the downside on my "M" pattern. Thanks and for more ideas check me out at www.keeneonthemarket.com