Moving down to the 4H chart shows that price is near the top of the channel -- and right shoulder -- and has now formed a at that level, which I will use as my entry moving down to the bottom area of the channel. The Blue horizontal line at 1.17000 is our major structure level, and a good place to use as an entry in the .
I will be updating this idea as things progress and will probably take several trades on the way down. I'm not the type of trader to ride a 400 pip move from start to finish because my high timeframe analysis is only a foundation for trades that may or may not happen during that large move. Do your own analysis, make your own decisions, but thank you for considering mine and leave a like if you want more.