OK. So here is a possible decent LONG trade coming up on this pair. There is a completed bullish butterfly
pattern that also has its' PRZ sitting on a solid MAJOR SR Structure level. This along with my projected wave count that shows a possible wave (iv) upcoming makes it a good trade to catch some pips north. But just bear
in mind that this pair is now in a solid down trend that can resume at any time. So if this trade is taken, must ACTIVELY monitor the trade. IF prices do not get to my entry, I will not take any trade. If I miss this LONG trade, no big deal!
MY TRADE PLAN
I will wait until this pair has reached the MAJOR SR Structure level before taking any LONG position. I\ll be looking for a relatively BRIEF retracement in a wave (iv) and watching closely for signs that the trend is continuing down and quickly close my LONG positions.