Here we have a corrective structure that has lasted almost 7 years, we have retrace more than 80% of the last impulse and now price has recently broken out of the smaller correction which had been going on since March 2015 and provides an opportunity to go long until the top trend line of the larger correction.
Previous lookout for a short setup did not materialize so going long!
Previous lookout for a short setup did not materialize so going long!
Comment:
we are now well above the corrective structure.