First of all, let us start by saying we are going via technical analysis only.
Our last analysis played out nicely, banking us 80% raw gain!
Technically, we are seeing a 535 zigzag pattern. We've seen 5 waves for wave A. We are now seeing 3 waves for Wave B. Expecting 5 waves lower for wave C.
Trade Idea: - Watch for rejection within the fib levels - Confirmation that we've started a move lower will be a break of the red trendline - You can go on to lower timeframe to find a slicker entry using various methods such as trendline break, BOS etc - Targets: 0.23, 0.125, taper thereafter