It might still be too early to "call the shorts", but this pair is pretty amazing. Besides being so scary sometimes, it can also be very predictable and has a lot of liquidity at most. The price is currently forming a triangle pattern and the best way to trade this is to wait for a breakout. I am calling a break to the downside because the price already broke the 200 moving day average and will likely continue the collapse.
Please not that if the price breaks the smaller flag pattern in the pair the upside, we would enter a long position since the price is currently testing an established trendline in the smaller timeframes
Please not that if the price breaks the smaller flag pattern in the pair the upside, we would enter a long position since the price is currently testing an established trendline in the smaller timeframes