Looking at the overall higher time frame trend we're going down, and within that channel we're about half way down in the current drop. A basic AB-CD projection after consolidation of a possible triangle or flag could give us another 2800 pips movement like we saw in the recent bearish fall.
Don't enter hastily as you may end up waiting for weeks (literally) stuck in consolidation. Not many have the emotional capacity to hold onto anything like that for that long.
Comments
Balazs
⋅
Perhaps too many pips for some, nevertheless we got what we wanted. Hope you all took some profits or at least moved your stop loss to break even :)