If you have a look at the weekly chart you will see what a great downtrend this is. The best way to profit from a downtrend like this is to swing trade on positive corrections. Analysing closely, I have spotted that every leg up or down gave a combination of warning signals in advance.
Each pattern is labeled so I won't go through them, but let's take all the instruments one by one.
1) Fibonacci ratios - As you can see, every down leg stops at either 127% or 161.8% of the previous correction.
2) - There are 3 things to look here for. Most important, are the spikes over 50 level. Those spikes signal the end of the positive correction. Secondly, when the is oversold the downleg has ended, and it's time to exit. Thirdly, divergences call for corrections, so again, time to exit.
3) Wave - the wave gives us the main dirrection and also a dynamic area. Look how all corrections rejected from the wave or made false breakouts over it.
4) - When price deviates too much from the EMAs and touch the down line of the , the move is over-extended and it's time to cover the short.
5) patterns - I always use them for timing. A candle stick is never enough on its own, but it's great for timing.
If taken one by one, none of these signals would mean anything, but look how they all happen at the same time. I honestly haven't seen so perfect timing in signals until now (not that I've been around for too long...).
I believe the downtrend is going to continue. I will want to take some profits at 0.78000 because thing can always change and there might be a there. Second target is at one of the two fib ratios. When close to each of these targets, I will look for the signals mentioned above.