The pair has broken out of the corrective structure to the downside previously and now after a correction up it is looking more likely that we head back down for the possible resumption of the longer term down trend, if we don't get the downside it will mean that this corrective structure is more complex and price will be expected to be within it for a while.
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Comments
nxtleveltrader
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Looks good, will you wait for something like a 4 hourly consolidation then take the next impulse down?
piphunters
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I have a pending order very close by which would be moved to BE, now looking at the possibility of the structure changing shape instead of giving immediate impulse. let's see