Keep an eye on this one for a short setup. I believe there will be a down move to the bottom of local structure, but the question is, is the downside over? Maybe some more upside before the next big move down.
I am expecting a breakdown to bottom of structure, where it could bounce again. It could also break structure, and retest the previous support as resistance and break down, creating a new impulse leg.
Best regards, Tom_Killick
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A strong 20+ pip drop already since posting, so well done to everyone who managed to catch this move with their trading strategies.
I will update this idea accordingly as it progresses.
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Strong drop to downside since I posted this idea. I am expecting more downside into next weeks trading. Later we will see the open price and if lower, we will definitely get our swing down leg.